ANALISIS FAKTOR-FAKTOR YANG MEMPENGARUHI CURRENT ACCOUNT DI INDONESIA

Abstract

This study aims to examine the factors influencing the current account in Indonesia for
the period 1993–2023, focusing on exports, imports, exchange rates, and gross domestic
product (GDP). The main issue addressed is the fluctuation of the current account due to the
dynamics of international trade and macroeconomic conditions, which may affect national
economic stability. The research employs the Error Correction Model (ECM) to analyze short
term and long-term relationships among variables. Annual secondary data were obtained from
the World Bank and Bank Indonesia. The findings indicate that in the short term, exports exert
a positive and significant effect, while imports have a negative and significant influence.
Meanwhile, the exchange rate shows a positive but insignificant effect, and GDP has a negative
but insignificant effect. In the long run, the results remain relatively consistent: exports continue
to have a positive and significant effect, imports exert a negative and significant influence,
while the exchange rate is positive but insignificant, and GDP remains negative and
insignificant in relation to the current account.