REPUBLIKA.CO.ID, JAKARTA -- Bank Indonesia (BI) estimates that Indonesia's trade balances recorded a surplus in December 2013 worth 785 million USD compared to previous month. BI Deputy Governor, Perry Warjiyo projected a surplus of non-oil trade balance worth 2.2 billion USD.
"December trade surplus was higher than previous month," Warjiyo said recently.
BI projected that Indonesia's trade balance would book a surplus of 1.6 billion USD, while non-oil balance would book a surplus of five billion USD compared to one billion USD in third quarter. This condition was driven by some factors, such as improved demand of non-oil export. Statistic Indonesia (BPS) reported that non-oil export in November 2013 reached 13.18 billion USD. Export value in December rose slightly to 13.4 billion USD driven by improved export of non-oil commodity.
The second factor is the decrease of imports. BPS recorded imports in third quarter of 2013 lower than the second quarter. There was a slowdown in imports of capital goods and raw materials.
The third factor is the presence of BI's policy mix in maintaining economic stability. Thus, current account deficit is expected to less than 3.5 percent, while 2014 deficit was estimated below three percent.
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