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Indonesia's balance of payments posted a surplus of US$4 billion in the fourth quarter of 2009, up from a surplus of US$3.5 billion in the third quarter, data released by the Bank Indonesia showed Tuesday.
The current account in the final quarter recorded a more robust US$3.4 billion surplus compared to US$2.2 billion in the previous quarter. This improvement was explained mainly by buoyant exports driven by the ongoing recovery in the global economy and rising prices of some main export commodities, the central bank said in a statement.
During the same period, the capital and financial account posted a US$1.4 billion surplus primarily resulted from surplus on direct investment and portfolio investment.
For the whole 2009, the current account surplus reached US$10.6 billion, considerably greater than the US$0.1 billion surplus in 2008. Similarly, the capital and financial account managed a US$3.7 billion surplus, a turnaround from a deficit of US$1.88 billion in 2008. Taken together, the overall 2009 balance of payments charted a US$12.5 billion surplus, which compares to the US$1.95 billion deficit in 2008.
International reserves at end of the fourth quarter amounted to US$66.1 billion, equivalent to 6.5 months of imports and official debt service payments. The central bank said international reserves reached US$69.9 billion as of January 2010.
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