<![CDATA[This study aims to analyze the determinants of Indonesia's balance of Indonesia's balance of payments partially and simultaneously in 2003-2022. This study consists of four independent variables (interest rates, exchange rates, inflation, and exports) and one dependent variable (Indonesia's balance of payments). The research method used is Error Correction Model (ECM). The results showed that the exchange rate has a negative effect in both the long and short term on Indonesia's balance of payments, but the effect is not significant, interest rates have a negative effect in the long term, but the effect is not significant, while in the short term it has a negative and significant effect. Inflation has a negative effect in the long term on Indonesia's balance of payments, but the effect is not significant, while in the short term it has a positive and insignificant effect, exports have a positive effect on Indonesia's balance of payments in both the long and short term, but the effect is not significant.]]>
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