Indonesia's Balance of Payments Records US$4.1 Billion Surplus in Q1 2021
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Indonesia's balance of payments (BOP) recorded a surplus of US$4.1 billion in Q1 2021, a significant increase from the US$156 million deficit in the previous quarter. This was driven by a surplus in the capital and financial account (CFA) amid a low current account (CA) deficit.
The CFA recorded a surplus of US$5.6 billion, or 2% of GDP, in January-March 2021. This improved compared to the US$1 billion deficit, or 0.4% of GDP, in the previous quarter.
This development was mainly supported by portfolio investment, which increased from US$1.9 billion to US$4.9 billion. Foreign direct investment (FDI) saw a decrease in surplus from US$4.2 billion to US$4.1 billion. Meanwhile, the deficit in other investment transactions decreased from US$7.4 billion to US$3.6 billion due to a decrease in overseas deposits.
Meanwhile, the CA recorded a deficit of US$997 million, or 0.4% of GDP, in Q1 2021. This reversed the US$900 million surplus, or 0.3% of GDP, in the previous quarter.
The CA deficit occurred as the services deficit increased from US$3.06 billion to US$3.42 billion. The goods balance saw a decrease in surplus from US$9.96 billion to US$7.1 billion. The primary income deficit also decreased from US$7.44 billion to US$6.9 billion.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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