Indonesia’s External Debt Growth Slowed - Bank Sentral Republik Indonesia
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October 18, 2017

Indonesia’s external debt in February 2017 amounted to USD321.7 billion or grew 2.7% (yoy), slower than 3.6% (yoy) in January 2017. Based on the group of borrowers, the deceleration was influenced by slower public sector external debt growth, along with private sector external debt that remained decline. Public sector external debt in February 2017 stood at USD162.0 billion or grew 10.3% (yoy), lower than previous month’s growth of 12.4% (yoy). Meanwhile, private sector external debt position in February 2017 was recorded at USD159.7 billion or down 4.0% (yoy), the same rate as the previous month's decline.

Based on original maturity, the slower growth was mainly charted by long-term external debt. Long-term external debt grew 0.8% (yoy) in February 2017, lower than 2.1% (yoy) growth in January 2017. Long-term external debt remained dominant in Indonesia’s external debt and stood at USD278.1 billion or 86.4% of total external debt in February 2017. Long-term external debt consisted of public sector external debt amounted to USD159.5 billion (57.4% of total long-term external debt) and private sector external debt amounted to USD118.5 billion (42.6% of total long-term external debt). Meanwhile, short-term external debt grew 17.0% (yoy), higher than 14.7% (yoy) growth in January 2017 primarily due to increased private sector trade credits. Short-term external debt amounted to USD43.6 billion (13.6% of total external debt), comprised of private sector external debt amounted to USD41.2 billion (94.4% of total short-term external debt) and public sector external debt amounted to USD2.4 billion (5.6% of total short-term external debt).

Based on economic sector, the private external debt position at the end of February 2017 was mainly concentrated in the financial, manufacturing, mining, and electricity, gas and water supply sectors. The shares of these four sectors to total private sector external debt reached 76.6%. Compared to January 2017, the year-on-year external debt growth of manufacturing sector increased, while the annual external debt growth of the electricity, gas and water supply sector slowed. On the other hand, the annual external debt growth of mining sector and financial sector remained contracted.

Bank Indonesia views the development of external debt at in February 2017 remains healthy but continues to be vigilant about the risks to the national economy. Moving forward, Bank Indonesia will persevere to monitor the development of external debt, particularly the private sector external debt. It is intended to give assurance that the external debt can play an optimal role in supporting development financing without incurring the risks that may affect macroeconomic stability.

The complete data concerning the Indonesia’s external debt can be found in the latest External Debt Statistics of Indonesia in Bank Indonesia website.

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