Indonesia's Current Account Deficit Reaches 3% of GDP in Q2 2019

Dwi Hadya Jayani 09/08/2019 16:07 WIB

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The current account deficit in the second quarter of 2019 was equivalent to 3% of Gross Domestic Product (GDP), up from 2.6% in the previous quarter.

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Indonesia's Current Account Deficit Reaches 3% of GDP in Q2 2019

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Current Account Deficit 2016-2019

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Based on Bank Indonesia data, the current account deficit (CAD) surged 20.51% from US$6.97 billion in Q1 2019 to US$8.4 billion in Q2 2019. Compared to the previous period, the current account deficit also increased by 5% compared to the Q2 2018 position of US$8 billion.

The current account deficit in Q2 2019 was equivalent to 3% of the Gross Domestic Product (GDP). This figure shows an increase compared to the previous quarter's 2.6%.

The surge in the current account deficit was influenced by the seasonal behavior of dividend repatriation and foreign debt interest payments. In addition, the current account deficit was also affected by the impact of slowing global economic growth and falling commodity prices.

(Read Databoks: Indonesia's Current Account Deficit Predicted at 2.7% in 2020)

Editor : Hari Widowati

"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."