The Indonesian economy sees an improvement trend in the third quarter of 2014, as trade balance swung positively in a surplus of 123 million USD in July after having a deficit of 305 million USD in June, according to the National Statistics Agency (BPS).
In July, the country has seen a decline in both export and import. Export fell 7.98 percent to 14.18 billion USD while import decreased 10.45 percent, down from 15.59 billion USD in June to 14.05 billion USD.
Indonesia ’s deficit in the first seven months was 1 billion USD, a sharp decrease compared to the same period last year’s figure of 5.67 billion USD.
Bank of Indonesia (BI) estimates the country’s current account deficit will decline to about 3.8 percent of GDP in the third quarter of 2014, from 4.17 percent of GDP (or 9.1 billion USD) in the previous quarter.
According to the Deputy Finance Minister Bambang Brodjonegoro, Indonesia ’s 2014 GDP may grow 5.2-5.3 percent, thanks to an increase in mineral exports.
BPS chief execute Suryamin said that inflation in August was 0.47 percent, much lower than the level of 1.12 percent in the same period last year, mainly due to stable prices of processed food, drinks, cigarettes, water, electricity and fuel. It brought the eight-month figure to 3.42 percent, down from 3.99 percent a year ago.
BI also noted that escalating tensions in the Middle East and Ukraine are negatively impacting on the global monetary market, especially for new emerging economies. However, Indonesia ’s rupiah remains stable within a range of 11,500-12,000 rupiah per USD.
Previously, Indonesian President Susilo Bambang Yudhoyono forecasted that the country’s economy will grow 5.6 percent in 2016.-VNA
In July, the country has seen a decline in both export and import. Export fell 7.98 percent to 14.18 billion USD while import decreased 10.45 percent, down from 15.59 billion USD in June to 14.05 billion USD.
Indonesia ’s deficit in the first seven months was 1 billion USD, a sharp decrease compared to the same period last year’s figure of 5.67 billion USD.
Bank of Indonesia (BI) estimates the country’s current account deficit will decline to about 3.8 percent of GDP in the third quarter of 2014, from 4.17 percent of GDP (or 9.1 billion USD) in the previous quarter.
According to the Deputy Finance Minister Bambang Brodjonegoro, Indonesia ’s 2014 GDP may grow 5.2-5.3 percent, thanks to an increase in mineral exports.
BPS chief execute Suryamin said that inflation in August was 0.47 percent, much lower than the level of 1.12 percent in the same period last year, mainly due to stable prices of processed food, drinks, cigarettes, water, electricity and fuel. It brought the eight-month figure to 3.42 percent, down from 3.99 percent a year ago.
BI also noted that escalating tensions in the Middle East and Ukraine are negatively impacting on the global monetary market, especially for new emerging economies. However, Indonesia ’s rupiah remains stable within a range of 11,500-12,000 rupiah per USD.
Previously, Indonesian President Susilo Bambang Yudhoyono forecasted that the country’s economy will grow 5.6 percent in 2016.-VNA
