Balance of international pembayara (BALANCE OF PAYMENT)

Balance of Payment Balance of payment (Bop) or the balance of payments (N / P) record all tansaksi a country with other countries, which include the international transactions of a country at a certain period, usually one year. Bop has two main components, namely: 1. Current account (current account), consisting of import and export transactions of goods and services. In the current account, exports are recorded as a credit for producing foreign exchange. While imports are recorded as a debit because the "remove" / out of the country foreign exchange. In addition to exports and imports, other transactions are included in the current account is the payment factor (factor payment), and unilateral transfers. 2. Financial account (formerly called the capital account), which records transactions of financial assets, transfer payments, debt and international debt. This will include recording of FDI (foreign direct investment or foreign investment / PMA), payment of dividends, debt repayment, interest or debt, the purchase of securities, stocks, and so forth. Financial measures the foreign exchange accounts in and out as the current account, where transactions that generate foreign exchange, recorded as a loan (capital inflow). In contrast, foreign exchange transactions that resulted out of a country are recorded as debit (capital outflow). Examples of transactions that generate foreign exchange (credit) on the financial account: the foreign debt, FDI, the purchase of shares or bonds in the country by foreign investors, etc. All of these transactions bring foreign exchange for the country. Such as transactions take place between the Indonesia-United States, the dollar reserves (foreign exchange) Indonesia will increase as a result of the above transactions. While examples of reducing foreign exchange transactions (debit) to the financial account are: the repayment of foreign debt, interest payments on foreign debt, payment of dividends on shares of domestic-owned by foreign investors, interest payments and debt maturity bonds, sending the profits from FDI or foreign investment invested in the country, etc. All this reduces the foreign exchange transactions of a country. Two main features are financial accounts: 1. Capital inflow. This is a fund / capital into a country (recorded as a credit), for example through foreign direct investment (FDI), purchase stocks, bonds, or other securities. Capital inflow which contributes both to the economy is that in the long run, for example through real capital investment (FDI) in the form of factory building, purchase of new machinery, etc. While short-term capital inflow is often also called "hot money", is a fund that just drop in a country and does not contribute directly to an increase in output (GDP). Hot money is usually only for short-term gains, such as the purchase of shares. 2. capital outflow. This is a fund / capital out of a country (recorded as a debit), for example, there are private / public investments (both FDI and the purchase of shares and other securities) in foreign countries, the repayment of foreign debt, interest payments on external debt country, etc. In an economy, theoretically deficit or surplus in the account one above will be covered by the surplus / deficit on the other account. Thus, Bop to reach equilibrium conditions / balanced / zero. impor) maupun negatif (defisit atau ekspor should be noted that this equilibrium can be achieved either when a positive net exports (or export surplus> imports) or negative (a deficit or exports Y." onmouseout="this.style.backgroundColor='#fff'">Based on these equations, the country experienced a deficit in X (or deficit on current account) if the domestic demand> domestic output, or C + I + G> Y. Conversely, a country experiencing a surplus in X if domestic demand Theoretically, if the current account deficit, which means imports> exports, then the state must seek foreign exchange or capital inflow to cover these shortages. As explained above, this inflow of capital can be obtained through FDI, the sale of stocks or bonds, or other asset sales to foreign countries. Thus, the state can obtain foreign exchange to pay for imports exceeding exports (because of foreign exchange resulting from exports are insufficient to pay for imports are larger). This will increase (credit) in the financial account, resulting in a surplus of deficit on current account. The result (theoretically), Bop will remain zero (equilibrium). Conversely, when the current account surplus, the country has a surplus of foreign exchange. This can be a foreign exchange reserves (to cover the deficit in the future), invested or loaned to other countries. Theoretically, this will reduce (debit) to financial accounts, resulting in a deficit of surplus that occurs in current accounts, so Bop will remain zero (equilibrium). Deficits and the Current Account Surplus The current account deficit is not necessarily bad, and vice versa, the surplus is also not always mean better. In the old days, economic experts and the state always maintains a surplus condition and called it a "favorable condition", while the deficit condition referred to as "unfavorable condition". Until now the mercantilist still believe about it. But economists now think another. Things to note here is the cause of the deficit or surplus. There are several conditions that may be experienced when the state of his current account deficit: Consumption exceeds the amount that can be produced. This condition in the long run will harm the economy because the deficit tends to be covered with foreign debt or the sale of overseas assets, which would require "payment" will be the future. The decline in "competitive advantage" the product of a country in another country. This is usually caused by a more expensive price. Prices are more expensive domestic products less attractive to consumers in other countries. This is especially often associated with the exchange rate. Exchange rate that is too strong will result in the price of the product of a country becomes relatively expensive in foreign countries, so that overseas consumers become reluctant to buy. According to experts, there are several reasons why the conditions of current account deficit need not worry: If current account deficits financed by long-term capital inflow, then this can be beneficial for the economy because it will increase production capacity in the country. In the globalization era like today, seeking funds to finance the deficit is not difficult. If the deficit is too large, it will lead to devaluation of the currency so it can help reduce the deficit. When there is a devaluation, the price of a country's exports will be relatively cheaper for consumers in other countries, so that export demand will increase. In contrast, the price of imported products will be relatively more expensive in the country, so the demand for imported products will decrease. But there are also reasons why we need to worry about the condition of the current account deficit: 1. Deficit in the long term need to watch out because it requires continuous funding. Funding is usually in the form of loans from abroad (thus there is a surplus in the financial accounts), which of course must be returned in the future. According http://www.economicshelp.org/2007/03/does-current-account-deficit-matter.html dati sources, if the deficit exceeds 6% of GDP, it would be dangerous if the country depends on the flow of funds from outside (capital inflow). 2. Many countries are not able to borrow large amounts at low interest rates, especially if there is no trust from the international world. If this happens, then the state would have to raise rates in order to attract funds from foreign investors, which would also cause new problems for macroeconomic conditions in the country. 3. The deficit is too large can be a sign of imbalance in the economic, structural weaknesses, and the production sectors that are not 'competitive'. This usually resulted in the production exceeds consumption, necessitating imports for the shortfall. In addition, foreign borrowing by the government can also increase aggregate demand, so demand for increased consumption of imports come. 4. The current account deficit is likely to raise foreign debt. In the long run, deficits that at first occurred only in the current account could affect the financial accounts for these foreign loans will require the payment of interest and loan repayment. Another example is the sale of shares to foreign countries to obtain foreign exchange for current account deficit, one would have to pay the dividend. Similarly, sales of overseas bonds, a time will require payment of interest and the face value (face value) of bonds. Deficit and surplus in BOP (disequilibrium) Although theoretically Bop must be at zero (equilibrium), but in reality this is often not achieved. There are three types and causes of disequilibrium in Bop: 1. Cyclical disequilibrium. There are two things that can cause this. First, the business cycle / economic differ between countries. Second, countries have the income elasticity of demand (income elasticity of demand) and / or the price elasticity of demand (price elastisity of demand) are different. 2. Secular disequilibrium. Is a long-term disequilibrium in the Bop, due to the profound economic changes during the period of time long enough. These economic changes are usually caused by phase transitions from one growth stage to another stage. tabungan domestik, dan impor > ekspor." onmouseout="this.style.backgroundColor='#fff'">Countries at the stage of growth of domestic investment tends to make> domestic savings, and imports> exports. Bop deficit occurred here because there are no surplus funds to cover imports. 3. Structural disequilibrium. This is divided into two: Disequilibrium at the level of goods and services. Occurs when changes in demand or supply for export or import of changing conditions existing equilibrium. Can also occur when the income was spent outside the country. Disequilibrium at the level factor (price factor). Occurs when the price factor (eg labor) are not in accordance with the factor endowment conditions in a country. For example, if labor costs are too high, then the company will likely seek other countries to produce, of course, the cost of labor is cheaper. Or, will import the goods / services that require a lot of labor if produced domestically will be multiplied. This will result in deficits in the Bop and unemployment in the country. Policies to Reduce Deficit Bop Devaluation, ie by lowering the exchange rate. Decrease in the exchange rate means the price of export goods will be cheaper for foreign consumers (due to our weakening exchange rate), and instead the price of imported goods would become expensive for domestic consumers. This will encourage exports and reduce imports, which in turn can improve the deficit in the Bop. Deflation, ie by lowering the general price level (deflation occurs when the inflation rate was minus). With the aim to reduce aggregate demand, the government will raise taxes or interest rates. Rising taxes will erode purchasing power, while naikknya interest rates will encourage people to save money (so that consumption decreases). As consumption decreases, imports are expected to come down and reduce the deficit. However, this policy depends on the elasticity of demand for imported goods. It also may conflict with other macroeconomic policies that could hinder economic growth and increase unemployment. Supply-side policies, ie from the supply-side policies in an economy. The trick is to manipulate the supply side (production) so that in the long term will improve the economy and exports kekompetitfan country. Protectionism. For example by raising tariffs / duties, impose quotas, strict import requirements, import content requirements, etc. The point is to protect domestic industries. Negative impact, this policy could hinder domestic production so that the potential exports go down. In addition, the local industry may become less competitive because it is protected. Entry Filed under: http://yasinta.wordpress.com/2008/07/22/neraca-pembayaran-internasional-balance-of-payment/.

This study used a linear regression analysis with the OLS method is used to model the partial adjustment model or (Partial Ad This study used a linear

. To obtain a valid estimate of statistical testing and testing of classical assumptions. Includes statistical test t test, F test and the test R2. The results of t test showed that the only variable that has income nasioanal significant influence on the current account in Indonesia. Test F shows that the joint - the same independent variables have a significant effect on the current account in Indonesia. F test value of 38.201. R2 tests showed that 0.941 for the dependent variables affect the dependent variable for the remaining 94.1% 5.9% influenced by other variables outside the model. Testing classical assumptions include multikolinieritas, Autokorelasi and Heteroskedastisitas. There are 2 variables that occur multikolieniritas symptoms of variable rate and SBI. As for Heteroskedastisitas and autokorelasi show that qualify in the test and no symptoms, so this research be used for decision making. Interpretation of their results - each regression coefficient values obtained the results that only the national income has a negative impact on the current account in Indonesia. For variable rate, SBI and SIBOR not significantly affect the current account in Indonesia. INTRODUCTION A. Problem Background of Indonesia as the country adopted an open economic system, state and development of foreign trade and balance of international payments can not be separated from the things that are and will take place in the global economic arena. Situation and the general economic trend will certainly affect the economy of Indonesia. A sluggish world economy would also melesukan trade among countries in the world, including Indonesia. Economic relations with abroad is part of a broad international relations, which includes also political relations, military, education and culture. For developing countries like Indonesia, especially with an open economic system, enabling economic relations with abroad occurs. Almost every day in the newspapers we read how the economic relations with abroad both bilaterally and multilaterally that happens (Widodo, 1990: 81). Of course, economic relations with these foreign influences on domestic economy. There was a bad influence, but there are also beneficial effects. International economic relations concerning ransaksi goods, services, capital, monetary, and all payment instruments affect the domestic economy. Studies on the influence of international economic relations on the domestic economy will be recorded in the balance of payments by way of certain accounting as defined by the IMF (International Monetary Fund) (Widodo, 1990: 81). In various writings, economic studies of foreign economic relations based on a lot of balance of payments. Then the balance of payments can be analyzed things menyagkut trade in goods (exports-imports), transaction services, exchange rate, the value of debt and repayment obligations, transactions running deficits, foreign exchange reserves, the ratio of international trade. In other words, the balance of payments indicators will be related to issues of national production, the government budget, monetary and international payment instruments (Widodo, 1990: 81). In the year 2000 the overall balance of payments showed Indonesia was encouraging developments. This is indicated by the improved performance of non-oil exports and rising oil and gas export revenues due to higher oil herga in international markets. On the other hand, considering the import content of export goods to produce is still high enough performance increase non-oil exports has also given impetus to increased non-oil imports, especially in the form of raw and auxiliary materials. Increased imports are also in line with the increased economic activity in the country. Meanwhile, the deficit in services transactions also experienced an increase caused by high interest payments on foreign debt, increasing oil revenue sharing payments to contractors, as well as increased transportation costs associated with import activities. On the whole transaction run in the year the report still shows a surplus even higher than the previous year. In terms of capital transactions, reduction in capital income and government deficits are still high traffic in private capital, has led to capital transactions in the year the report is still in deficit. With these developments in the overall balance of payments surplus in 2000 for $ 5.0 billion that foreign exchange reserves position at the end of 2000 reached $ 29.3 billion, equivalent to 6.3 months of import requirements and foreign debt payments pemerintah.Dalam reporting period, transaction running record surplus of $ 7.7 billion, up 33.0% compared with a surplus in the previous year's $ 5.8 billion. Walk the transaction surplus came mainly from the trade balance surplus reached $ 25.1 billion. The increase in the trade balance surplus is mainly due to sharp increase in revenues from oil and gas sector as a result of high oil prices in international markets. On the other hand, the trade balance surplus in non-oil sector reached $ 14.9 billion, is relatively fixed compared with the previous year. Meanwhile, the balance of services recorded a deficit of $ 17.4

BI DEFISIT

Deficit BI
Balance of Bank Indonesia's largest contributor deficit deficit is an effort to attract and keep excess rupiah liquidity.
JAKARTA - The economic situation is uncertain in the world and within the country, joined an impact on the balance sheet of Bank Indonesia (BI) 2007. The proof, based on 2007 financial statements, BI deficit up to Rp 1.4 trillion.
"As much as 80 percent of the deficit figures are donated by the policy to absorb excess liquidity due to pressure on the rupiah," said BI Deputy Governor Budi Mulya, Monday (19 / 5), in Jakarta. BI 2007 Financial Report was audited Pemerika Agency (BPK) and received unqualified opinions (WTP).
Budi explains, when world crude oil prices continued to move up, then inflation becomes a threat the economy, not only domestically but also globally. Related to that, he continued, BI, the central bank to do three things. First, raising interest rates the BI rate, which is now in a position to 8.25 percent. Second, the rupiah volatility, not to drop too sharply. Third, in order to manage liquidity sufficient but not excessive.
"If the excess liquidity it will be increasingly pushing inflation expectations," added Blake. Efforts to suck excess liquidity and volatility of the rupiah that contribute greatly to the BI deficits. Budi added increase in primary commodity prices is feared would encourage increased cost pressures (cost push inflation). Parties BI, he said, estimating inflation throughout Indonesia in 2008 could be above 9 percent, even more if the increase in fuel price (BBM) was applied.
Despite the deficit, Budi confirmed, that the condition does not necessarily reduce the credibility of central banks. "Consideration of monetary stability is everything, though there should be cost burdens," he said. Deficit will be solved if the economic situation, world and domestic, which turned the normal fees to withdraw excess funds will be reduced.
Foreign postal another BiasaFaktor that contribute to the deficit figures, according to Deputy Governor of BI, Ardhayadi M, is no longer posts extraordinary. At the balance sheet in 2006, the report noted suprlus BI deficit to a surplus of Rp 31 trillion, because there are extraordinary amount of Rp 37.9 trillion. "In 2007 there were no more extraordinary that," said Ardhayadi.
Extraordinary item in question, he says, comes from the restructuring of Government Bonds and SU-002/MK/1998 number SU-004/MK/1999, according to the agreement the Minister of Finance and the Governor of BI. "Pos or extraordinary revenues that could cover the deficit of BI 2006 is reached Rp 6.9 trillion," explained Ardhayadi.
Furthermore, notes explaining Ardhayadi burden on the balance sheet liability in the 2007 balance sheet has increased compared to 2006. If there is a decreasing burden is the burden of monetary control, from Rp 32.7 trillion (balance of 2006) to Rp 25 trillion (balance of 2007). "However, the decline is not because it is a decline in the burden, but because of the balance sheet throughout 2006 there was a loan repayment to the International Monetary Fund (IMF), the flowers reach Rp 9.7 trillion," explained Ardhayadi.
Source: republika.co.id
date 21 05 08

Defisit BI

Neraca Bank Indonesia Defisit Penyumbang terbesar defisit adalah upaya menarik ekses likuiditas dan menjaga rupiah.
JAKARTA -- Situasi ekonomi yang tak menentu di dunia maupun di dalam negeri, ikut berdampak pada neraca Bank Indonesia (BI) 2007. Buktinya, berdasarkan laporan keuangan 2007, BI mengalami defisit sampai sebesar Rp 1,4 triliun.
"Sebanyak 80 persen dari angka defisit tersebut disumbangkan oleh kebijakan untuk menyedot ekses likuiditas akibat tekanan terhadap rupiah," ungkap Deputi Gubernur BI, Budi Mulya, Senin (19/5), di Jakarta. Laporan Keuangan BI 2007 itu sudah diaudit Badan Pemerika Keuangan (BPK) dan mendapat opini Wajar Tanpa Pengecualian (WTP).
Budi menjelaskan, saat harga minyak mentah dunia terus bergerak naik, maka inflasi menjadi ancaman ekonomi, bukan hanya di dalam negeri tapi juga global. Terkait itu, sambungnya, BI sebagai bank sentral melakukan tiga hal. Pertama, menaikkan suku bunga BI rate, yang kini sudah berada di posisi 8,25 persen. Kedua, menjaga volatilitas rupiah, jangan sampai merosot terlalu tajam. Ketiga, mengelola likuiditas agar cukup tapi tidak berlebih.
"Kalau likuiditas berlebih justru akan semakin mendorong ekspektasi inflasi," tambah Budi. Upaya menyedot ekses likuiditas dan menjaga volatilitas rupiah itulah yang berkontribusi besar terhadap defisit neraca BI. Budi menambahkan kenaikan harga komoditas primer dikhawatirkan akan mendorong meningkatnya tekanan biaya (cost push inflation). Pihak BI, katanya, memperkirakan inflasi Indonesia sepanjang 2008 bisa berada di atas 9 persen, bahkan lebih jika kenaikan harga bahan bakar minyak (BBM) benar diterapkan.
Kendati mengalami defisit, Budi menegaskan, kondisi itu tidak serta merta menurunkan kredibilitas bank sentral. "Pertimbangan kestabilan moneter adalah segalanya, meski harus ada beban-beban biaya," katanya. Kondisi defisit tersebut akan teratasi jika situasi ekonomi, dunia dan domestik, berbalik normal sehingga biaya-biaya untuk menarik ekses dana akan berkurang.
Pos Luar BiasaFaktor lain yang menyumbang pada angka defisit tersebut, menurut Deputi Gubernur BI, Ardhayadi M, adalah tidak ada lagi pos-pos luar biasa. Pada neraca 2006, laporan suprlus defisit BI tercatat surplus sampai Rp 31 triliun, lantaran ada pos luar biasa sebesar Rp 37,9 triliun. "Pada 2007 tidak ada lagi pos luar biasa itu," ungkap Ardhayadi.
Pos luar biasa dimaksud, ia bilang, berasal dari restrukturisasi Surat Utang Pemerintah nomor SU-002/MK/1998 dan SU-004/MK/1999, sesuai kesepakatan Menteri Keuangan dan Gubernur BI. "Pos atau penerimaan luar biasa itu bisa menutupi defisit neraca BI 2006 yang mencapai Rp 6,9 triliun," jelas Ardhayadi.
Lebih lanjut, Ardhayadi menjelaskan catatan beban pada beban di neraca 2007 mengalami peningkatan dibanding neraca 2006. Kalaupun ada beban yang menurun adalah beban pengendalian moneter, dari Rp 32,7 triliun (neraca 2006) menjadi Rp 25 triliun (neraca 2007). "Namun, penurunan tersebut bukan karena memang terjadi penurunan beban, tapi lantaran pada neraca 2006 ada pelunasan seluruh pinjaman ke Dana Moneter Internasional (IMF), yang bunganya mencapai Rp 9,7 triliun," jelas Ardhayadi.
Sumber :republika.co.id
tgl 21 05 08

Penelitian ini menggunakan alat analisis regresi linier dengan metode OLS dengan model yang digunakan yaitu model Penyesuaian Parsial atau (Partial Ad

Penelitian ini menggunakan alat analisis regresi linier dengan metode OLS dengan model yang digunakan yaitu model Penyesuaian Parsial atau (Partial Adjusment Model). Untuk memperoleh hasil estimasi yang valid dilakukan pengujian secara statistik dan pengujian asumsi klasik. Pengujian secara statistik meliputi uji t, uji F dan uji R2. Adapun hasil dari uji t menunjukan bahwa hanya variabel pendapatan nasioanal yang mempunyai pengaruh signifikan terhadap neraca transaksi berjalan di Indonesia. Uji F menunjukkan bahwa secara bersama – sama variabel independen berpengaruh signifikan terhadap neraca transaksi berjalan di Indonesia. Dengan nilai Uji F sebesar 38,201. Uji R2 menunjukkan sebesar 0,941 sehingga variabel dependen mempengaruhi variabel dependen sebesar 94,1% sedangkan sisanya 5,9% dipengaruhi oleh variabel lain diluar model. Pengujian asumsi klasik meliputi multikolinieritas, Autokorelasi dan Heteroskedastisitas. Ada 2 variabel yang terjadi gejala multikolieniritas yaitu variabel kurs dan SBI. Sedangkan untuk Heteroskedastisitas dan autokorelasi menunjukkan bahwa lolos dalam pengujian dan tidak ada gejala gangguan sehingga penelitian ini baik digunakan untuk pengambilan keputusan. Hasil interpretasi dari masing – masing nilai koefisien regresi diperoleh hasil bahwa hanya pendapatan nasional mempunyai pengaruh negatif terhadap neraca transaksi berjalan di Indonesia. Untuk variabel Kurs, SBI dan SIBOR tidak berpengaruh secara signifikan terhadap neraca transaksi berjalan di Indonesia.
PENDAHULUAN
A. Latar Belakang Masalah Indonesia sebagai negara yang menganut sistem perekonomian terbuka, keadaan dan perkembangan perdagangan luar negeri serta neraca pembayaran internasional tidak bisa lepas dari hal-hal yang sedang dan akan berlangsung di dalam percaturan ekonomi global. Situasi dan kecenderungan umum perekonomian dapat dipastikan akan mempengaruhi perekonomian Indonesia. Perekonomian dunia yang lesu akan melesukan pula perdagangan antar negara di dunia, termasuk Indonesia. Hubungan ekonomi dengan luar negeri adalah bagian dari hubungan internasional secara luas, yang mencakup juga hubungan politik, militer, pendidikan dan kebudayaan. Bagi negara sedang berkembang seperti Indonesia, terlebih dengan system ekonomi terbuka, memungkinkan hubungan ekonomi dengan luar negeri terjadi. Hampir setiap hari dalam surat kabar kita baca bagaimana hubungan-hubungan ekonomi dengan luar negeri baik secara bilateral maupun multilateral itu terjadi (Widodo, 1990 : 81). Tentu saja hubungan ekonomi dengan luar negeri ini memberi pengaruh terhadap perekonomian dalam negeri. Ada pengaruh buruk, tapi juga ada pengaruh menguntungkan. Hubungan ekonomi internasional menyangkut ransaksi barang, jasa modal, moneter, alat pembayaran dan semuanya berpengaruh terhadap ekonomi dalam negeri. Kajian tentang pengaruh hubungan ekonomi internasional terhadap ekonomi dalam negeri akan tercatat dalam Neraca Pembayaran dengan cara pembukuan tertentu seperti yang ditetapkan oleh IMF (International Monetary Fund) (Widodo, 1990 : 81). Dalam berbagai tulisan, kajian ekonomi tentang hubungan ekonomi luar negeri banyak berdasarkan pada Neraca Pembayaran. Kemudian dari Neraca Pembayaran ini dapat dianalisis hal-hal yang menyagkut perdagangan barang (ekspor-impor), transaksi jasa, nilai tukar, nilai utang dan kewajiban pelunasan, defisit transaksi berjalan, cadangan devisa, rasio perdagangan internasional. Dengan kata lain indicator Neraca Pembayaran akan menyangkut masalah-masalah produksi nasional, anggaran pemerintah, moneter dan alat pembayaran internasional (Widodo, 1990 : 81). Dalam tahun 2000 secara keseluruhan neraca pembayaran Indonesia menunjukkan perkembangan yang cukup menggembirakan. Hal ini ditandai dengan semakin membaiknya kinerja ekspor nonmigas dan meningkatnya penerimaan ekspor migas sehubungan dengan tingginya herga minyak di pasar internasional. Di sisi lain, mengingat kandungan impor untuk menghasilkan barang ekspor masih cukup tinggi meningkatnya kinerja ekspor nonmigas telah pula memberikan dorongan terhadap meningkatnya impor nonmigas terutama dalam bentuk bahan baku dan penolong. Peningkatan impor tersebut juga sejalan dengan meningkatnya kegiatan ekonomi di dalam negeri. Sementara itu, defisit transaksi jasa-jasa juga mengalami peningkatan yang disebabkan oleh tingginya pembayaran bunga utang luar negeri, meningkatnya pembayaran bagi hasil minyak untuk kontraktor, serta meningkatnya biaya transportasi yang terkait dengan kegiatan impor. Secara keseluruhan transaksi berjalan dalam tahun laporan tetap menunjukkan surplus bahkan lebih tinggi dari tahun sebelumnya. Dari sisi transaksi modal, berkurangnya pemasukan modal pemerintah dan masih tingginya defisit didalam lalu lintas modal swasta, telah menyebabkan transaksi modal dalam tahun laporan masih mengalami defisit. Dengan perkembangan tersebut secara keseluruhan NPI dalam tahun 2000 mengalami surplus sebesar $5,0 miliar sehingga posisi cadangan devisa pada akhir tahun 2000 mencapai $29,3 miliar atau setara dengan 6,3 bulan kebutuhan impor dan pembayaran utang luar negeri pemerintah.Dalam periode laporan, transaksi berjalan mencatat surplus sebesar $7,7 miliar, meningkat 33,0% dibandingkan dengan surplus dalam tahun sebelumnya sebesar $5,8 miliar. Surplus transaksi berjalan tersebut terutama berasal dari surplus neraca perdagangan yang mencapai $25,1 miliar. Kenaikan surplus neraca perdagangan yang tajam terutama disebabkan oleh meningkatnya penerimaan dari sektor migas sebagai akibat tingginya harga minyak di pasar internasional. Disisi lain, surplus neraca perdagangan di sektor nonmigas mencapai $14,9 miliar, relatif tetap dibandingkan dengan tahun sebelumnya. Sementara itu neraca jasa mencatat defisit sebesar $17,4 miliar, lebih besar dari tahun sebelumnya yang mencatat defisit sebesar $14,9 miliar.
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NERACA PEMBAYARANINTERNASIONAL

Material of Lecturer prepared byDarwanto, S.E., M.Si.
DEFINISI :N b s t dlh t
• Neraca pembayaran suatu negara adalah catatanyang sistematis tentang transaksi ekonomiinternasional antar penduduk negara itu denganpenduduk negara lain dalam jangka waktutertentu.
• Tujuan utamannya adalah untuk memberikaninformasi kepada pemerintah tentang posisikeuangan dalam hubungan ekonomi dengan negaralain serta membantu di dalam pengambilankebijaksanaan moneter,fiskal,p erdagangan danpembayaran internasional.
Transaksi barang dan jasa
• Persamaan penghas ilan nasional :Y = C + I + G + ( X – M )
Keterangan :
Y = Penghasilan Nasional
C = Pengeluaran KonsumsiI = Pengeluaran Investasi
G = Pengeluaran Pemerintah
X = Ekspor
M = Impor( X - M ) merupakan neraca pembayaran (netto).
Apabila (X – M)positip berarti ( C + I + G ) < Y, implikasinya bahwa suatu negaramenghasilkan lebih banyak dari yang digunakan sehingga kelebihandijual di luar negeri, ( X – M ) bernilai negatip berarti negara itupengeluarannya lebih besar dari pada yang dihasilkan.
Transaksi Modal
Transaksi modal terdiri:
a.Transaksi modal jangka pendek:
- Kredit untuk perdagangan dari negara lain (kredit)-Kredit perdagangan kepada penduduk negara lain (debet)
-Deposit bank di LN (debet)
-Deposit bank dalam negeri milik penduduk negara lain (kredit)
-Pembelian surat berharga LN jk. pendek (debet)
-Penjualan surat berharga jk. pendek kpd penduduk LN (kredit)

b.Transaksi modal jangka panjang:-Investasi langsung di luar negeri (transaksi debet )
-Investasi asing di dalam negeri (transaksi kredit ).
-Pembelian surat berharga jk panjang jk. penduduk LN (debet)
-Pembelian surat berharga jk. panjang DN oleh penduduk LN (kredit)

Transaksi Satu Arah ( Unilateral Transfer fer )
Transaksi satu arah adalah transaksi yang tidak menimbulkan kewajiban untukmelakukan pembayaran.Exp: hadiah (gift) , bantuan (aid)
-Negara memberi bantuan atau hadiah ke negara lain (debet)
-sebaliknya
Selisih Perhitungan (Errors and Omissions)
Rekening ini merupakan rekening penyeimbang apabila transaksi
– transaksikredit tidak persis sama dengan nilai transaksi – transaksi debet.

Lalu Lintas Moneter
Transaksi ini sering disebut “ accommodating” , sebab transaksi yang timbulakibat dari adanya transaksi lain.Transaksi lain ini sering disebut dengan “ autonomous “ sebab transaksi ini timbuldengan sendirinya, tanpa dipengaruhi transaksi lain.B b P i “ B l
Beberapa Pengertian Balance
“ Dalam SuatuNeraca PembayaranKonsep “ balance “ dalam neraca pembayaran mempunyai arti yang berbeda –beda. Pada dasarnya ada empat pengertian balance :
1.Basic Balance
2.Autonomous Balance
3.Liquidity Balance
4.Balance

Transaksi Pemerintah Jangka pendek.
• Basic balanceBasic balance terdiri dari balance dalam transaksi sedang berjalan ditambahtransaksi modal jangka panjang Basic Balence memberikan panjang. informasi tentangperubahan perekonomian terhadap aliran modal jangka pendek
• Balance Transaksi “ Autonomous “.Balance ini terdiri dari basic balance ditambah dengan aliran modal jangkapendek.
• Balace Transaksi Pemerintah Jangka PendekNeraca pembayaran terdiri dari penjumlahan basic balance, selisih yangdiperhitungkan dan rekening modal jangka pendek. ketidakseimbangan yangtimbul dalam neraca pembayaran diseimbangkan dengan cadanganmodal pemerintah serta

Masalah DalamAnalisis Neraca Pembayaran
Tujuan analisi neraca pembayaran sangat berbeda --beda dan perbedaan ini menentukan pola analisanya.Beberapa masalah atau kekeliruan yang sering timbuldalam analisa neraca pembayaran antara lain :
A.Seringkali meabaikan saling hubungan antaratransaksi internasional yang satu dengan yanglain, sehingga ketidak seimbangan dalam neracapembayaran diasosiasikan dengan satutransaksi saja tanpa melihat hubungannya denganyang lain
B. Surplus Transaksi yang sedang berjalan seringdianggap baik, sebaliknya deficit dianggap jelek.
C.Keputusan untuk memberi bantuan (Aid)seharusnya lebih didasarkan pada kekuatanekonomi negarasecarakeseluruhan.