TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Imports drop, current-account deficit narrows in 2015
Better: Bank Indonesia staff nearby the damaged-money replacement counter, set up as part of the bankâs âclean money policy', aimed at providing the public with a good quality medium of exchange
Change Size
.img_assist_custom-639x392.jpg)
Better: Bank Indonesia staff nearby the damaged-money replacement counter, set up as part of the bankâs âclean money policy', aimed at providing the public with a good quality medium of exchange. The central bank has reported that Indonesia's current account deficit (CAD) improved in 2015 to 2.1 percent of gross domestic product, after posting a 3.1 percent CAD in the preceding year. (thejakartapost.com/Wienda Parwitasari) (CAD) improved in 2015 to 2.1 percent of gross domestic product, after posting a 3.1 percent CAD in the preceding year. (thejakartapost.com/Wienda Parwitasari)
B
span class="inline inline-center">Better: Bank Indonesia staff nearby the damaged-money replacement counter, set up as part of the bank's 'clean money policy', aimed at providing the public with a good quality medium of exchange. The central bank has reported that Indonesia's current account deficit (CAD) improved in 2015 to 2.1 percent of gross domestic product, after posting a 3.1 percent CAD in the preceding year. (thejakartapost.com/Wienda Parwitasari)
Bank Indonesia (BI) reported a current-account deficit (CAD) of US$17.8 billion in 2015, lower than the 2014 level of $27.5 billion, a result of an overwhelming drop in imports amid low exports and lighter capital outflow over the course of the year.
The 2015 CAD was equivalent to 2.1 percent of gross domestic product (GDP), compared with 3.1 percent CAD in 2014, the central bank said.
'It was due to a bigger decline in imports than in exports, as well as improved income and service balance. The drop in imports was caused by lower domestic demand in the sluggish economy,' said BI spokesperson Arbonas Hutabarat in a statement on Friday.
At the same time, he continued, the drop in exports was driven by weakened external demand caused by global slowdown and the continuing drop in global commodities prices.
In the fourth quarter of 2015 alone, the CAD stood at $5.1 billion or 2.4 percent of gross domestic product (GDP), widening from the third quarter CAD of $4.2 billion or 1.9 percent of GDP.
CAD is a measure of a country's foreign trade in both goods and services. It is part of the balance of payments, which summarizes an economy's transactions with the rest of the world.
Indonesia's balance of payments slipped to a $1.1 billion deficit last year from a surplus of $15.2 billion in 2014, a result of declined surplus in Indonesian capital and financial transactions, Arbonas explained. (ags)
