Jakarta: Indonesia’s official reserve assets position at the end of July 2019 was recorded at USD125.9 billion, up from USD123.8 billion at the end of June 2019.
The official reserve assets position was equivalent to finance 7.3 months of imports or 7.0 months of imports and servicing government’s external debt, which is well above the international standard of reserve adequacy of 3 months of imports.
"Bank Indonesia considers that the official reserve assets position was able to support the external sector resilience and maintain macroeconomic and financial system stability," the central bank said in a written statement released on Wednesday.
The gain in official reserve assets in July 2019 was mainly influenced by oil and gas and other foreign exchange receipts, as well as the withdrawals of government’s external debt.
Moving forward, the central bank views that the official reserve assets remain adequate, supported by the stability and upbeat outlook of the domestic economy.
Based on data from the Central Statistics Agency (BPS), Indonesia recorded a trade surplus of USD196 million in June 2019. However, cumulatively, Indonesia recorded a trade deficit of USD1.9 billion in the first semester of 2019.
Overall, Indonesia's exports reached USD80.32 billion in the first semester of 2019. The number was down by 8.75 percent compared to the same period last year.