Volatility of Indonesia's Foreign Exchange Reserves from the Viewpoint of Transaction Growth Export and Import Before and After the Covid-19 Pandemic

Abstract

In the growth of trade in the country, one of the indicators that can strengthen or weaken trade, be it in 
trade transactions or the growth of the economy can be seen from the source of foreign exchange 
reserves it has, where the more countries have foreign assets, the more  ready the country is to enter into 
foreign exchange. facing an economic crisis. In order to maintain the condition of foreign exchange 
reserves at a safe level, it is necessary to know the factors that affect foreign exchange reserves including 
Exports, Imports in which Commodities from the Oil and Gas sector and from the Non-Oil and Gas sector 
are very important and affect economic growth in Indonesia. The research design used a qualitative 
descriptive research design. Throughout 2019 the oil and gas sector in Indonesia experienced a deficit 
then the non-oil and gas sector was also affected by a deficit, the non-oil and gas contribution made 
Indonesia's balance of payments positive (surplus) in 2019, in 2020 the oil and gas sector experienced a 
deficit with an average of US$ 498 million for the current year, strengthening 39 ,1% the highest deficit 
value at the beginning of the year in January of US$ 1,170.9 million, then in the non-oil and gas sector the 
highest surplus was in October with a nominal value of US$ 4,041.7 million and the lowest (deficit) in April 
with a nominal value of US$ 81.7 million. countries affected by the spread of the Covid-19 pandemic, 
where all ongoing activities can be hampered due to limited mobility in carrying out activities.