strsubcodechain Indonesia Balance of Payments - Data and Methods
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Subjects > Balance of Payments > Indonesia

Country: Indonesia Subject: Balance of Payments

Name of collection/source
The data are derived from a combination of customs declarations, administrative records and surveys, and cover the entire economy.

Direct source
International Monetary Fund

Source Periodicity
Periodicity: Quarterly Timeliness: 3 months after the end of the reference quarter.

Geographic coverage
The geographic coverage corresponds to the national boundaries of Indonesia including Indonesia's embassies abroad and excluding foreign embassies in Indonesia.

Key statistical concept
The agency responsible for compiling Indonesia's balance of payments is Bank Indonesia (BI). BI obtains primary data from a variety of sources, including customs data, an international transaction reporting system (ITRS), administrative data from the ministries and other government agencies, and surveys of banks and private sector enterprises. Data are prepared on a quarterly basis and are published in the monthly bulletin Indonesia Financial Statistics, the Quarterly Review, and in the Annual Report of BI. Transactions denominated in other currencies are converted to U.S. dollar equivalents at the exchange rate prevailing on the transaction dates or the average exchange rate for the period. The balance of payments compilation is in principle in accordance with the concepts set out in the BPM5.

Country: Indonesia Subject: Balance of Payments > Current Account Balance

Key statistical concept
Current Account

Data on goods consist of general merchandise and nonmonetary gold. Data on exports and imports are compiled by the BI on the basis of customs documents and other sources. Goods exported and imported are valued in the customs documents on an f.o.b. and c.i.f. basis, respectively. Imports are converted to an f.o.b. basis by subtracting freight on imports.

This category covers freight, passenger, and other by all modes of transport. Entries for the value of freight debits are mainly estimated on the basis of information on freight furnished in customs declaration forms. The data on passenger service credits and freight credits are collected from ITRS. Data on passenger transportation debits are estimated based on a survey of travelers and average air fares derived from a survey of travel agencies. Other transportation includes foreign exchange receipts for use of seaport and airport facilities. These data are reported by the seaport and airport authorities.

Entries for travel credits and debits are derived from census and surveys conducted by the Ministry of Tourism and the Central Bureau of Statistics. Estimates are made by combining the number of foreign visitors and the number of Indonesian travelers abroad with estimation of their average expenditures. Entries for travel debits are derived from information provided by other ministries. It should be noted that part of the travel debit item is accounted for by hajj pilgrimages.

Other services
Data cover telecommunications, postal, and courier services, which are obtained from ITRS.

Data cover construction and installation projects that have been done either abroad or in the compiling economy. The data are obtained from the ITRS.

This category covers freight insurance and reinsurance. Data are compiled on the basis of information from the customs documents and from the annual reports of insurance companies and ITRS.

Data include commissions and fees of financial intermediation. The data are obtained from the ITRS.

Computer and information.
Data cover hardware consultancy, software implementation, maintenance and repair of computers, and information services, including data processing and news agency services. The data are obtained from the ITRS.

Royalties and license fees.
Data cover receipts and payments for the use of trademarks, copyrights, patents, processes, franchise, etc. The data are obtained from the ITRS.

Other business services.
Data cover miscellaneous business, professional, and technical services, etc. The data are obtained from the ITRS.

Personal, cultural, and recreational.
Data include services associated with the production of motion pictures on films or video tape, radio, and television programs, and musical recordings, etc. The data are obtained from the ITRS.

Government, n.i.e.
Data on these transactions are derived from information provided by relevant ministries, as well as international organizations. The credit entries include expenditures of foreign embassies, foreign diplomatic missions, international organizations in Indonesia, nontax revenue of Indonesia's embassies, and visa on arrival (VOA). The debit entries cover the expenditures abroad of Indonesian embassies.

Investment income
Direct investment.
Data on direct investment income are estimated on the basis of reports on external debt, submitted by foreign direct investment enterprises.

Portfolio investment.
Data on portfolio investment income are derived from the accounting records of BI.

Other investment.
Data on other investment income are derived from the Ministry of Finance data on the external debt of the government, other sectors' external debt data compiled by BI, and the monetary statistics.

Current transfers
General government
Data are derived from information provided by the Ministry of Finance and National Development Planning Agency. The entries include grants in cash and in kind received for development, including technical assistance.

Other sectors
The entries for this item consist of data on worker's remittances and other current transfers such as premiums (minus service charges) and claims for non-life insurance and reinsurance. The data on worker's remittance debits are derived from the relevant ministry's reports on the number of Indonesian workers abroad and their average wages and salaries. The data on worker's remittance credits are derived from relevant ministry's reports on the number of foreign workers and their average wages and salaries.

Country: Indonesia Subject: Balance of Payments > Capital and Financial Accounts

Key statistical concept
Capital Account
Capital transfers
It is not yet possible to break down unrequited transfers into current transfers and capital transfers, and all such transfers are classified under current transfers.

Financial Account
Direct investment
Data on direct investment in Indonesia consist of equity capital and other capital. Data on equity are derived from the survey results, and data on other capital are obtained from foreign debt report of enterprises.

Portfolio investment
This component covers inward portfolio investment data on equity securities traded on the Jakarta Stock Exchange, and debt securities. The data on debt securities, including bonds, notes, and money market instruments, are obtained from the BI and custodian banks' reports. In addition, domestic and international publications are used to monitor the issuance of debt securities of Indonesian enterprises in the international market.

Other investment
Other investment entries consist of drawings and repayments of loans received by residents. These data are obtained from the BI external debt statistics.

Reserve assets
Data are derived from the accounting records of BI and include changes in foreign exchange holdings of BI. These changes are estimated as differences in amounts outstanding and therefore include valuation changes. Starting from the first quarter 2004, the reserve asset component covers only transaction data and excludes the valuation changes.