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Indonesia's current account deficit (CAD) was recorded at US$3.9 billion, or 1.4% of its Gross Domestic Product (GDP), in the first quarter of 2020. This figure is lower than the previous quarter's US$8.1 billion, or 2.8% of GDP.
The decrease in Indonesia's CAD was influenced by an increase in the goods trade surplus. This surplus was due to a larger decrease in imports than in exports. This is in line with the slowing economy as a result of the Covid-19 pandemic.
In addition to the trade surplus, the deficit decrease occurred in the services balance due to a reduction in the transportation services deficit. Indonesia's sluggish economy also lowered corporate income, resulting in lower profit sharing for investors. This impacted a decrease in the primary income balance deficit, further contributing to the reduction in the current account deficit.
"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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