The surplus in the balance of payment had resulted in an increase in the country`s foreign exchange reserves from US$95.7 billion in the third quarter to US$99.4 billion in December 2013.Jakarta (ANTARA News) - Bank Indonesia said the country recorded a balance of payment surplus of US$4.4 billion in the last quarter of 2013 radiating a healthy performance after deficits in the previous three quarters.
"The improvement in the countrys balance of payments in the fourth quarter of 2013 was attributable partly to sharp cut in current account deficit to US$4 billion or 1.98 percent of the Gross Domestic Product (GDP)," head of the Balance of Payment Group Endy Dwi Tjahjono said at a meeting with the press here on Friday.
The countrys current account deficit fell from US$8.4 billion or 3.8 percent of the GDP in the previous quarter.
"The surplus in the balance of payment in the 4th quarter of 2013 was also attributable to an increase in capital and financial account surplus to US$9.2 billion from US$5.6 billion in the previous quarter," Endy said.
The surplus in the balance of payment had resulted in an increase in the countrys foreign exchange reserves from US$95.7 billion in the third quarter to US$99.4 billion in December 2013.
Endy attributed the surplus in the balance of payments to effective policy mix of the government and Bank Indonesia in focusing efforts to slashing current account deficit and strengthening external resilience.
With the surplus in the 4th quarter, the countrys balance of payment deficit was reduced to US%7.3 billion in 2013 after a surplus of US$200 million in 2012.
The deficit in 2013 was caused by widening current account deficit totaling US$28.5 billion or 3.26 percent of GDP in the whole of that year -- larger than US$24.4 billion or 2.78 percent of GDP in 2012.
The trend was in line with the global economic slowdown and commodity price fall that resulted in a sharp fall in the countrys exports , Endy said.(*)
Editor: Heru Purwanto
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