Current Account Balance in Deficit Since 2012

Economics & Macro

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12/11/2018 10:13 WIB

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Indonesia's current account deficit peaked at US$29.1 billion, or 3.19% of GDP, in 2013.

Current Account Balance and Percentage of GDP (2004-III 2018)

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Current Account Balance in Deficit Since 2012

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Current Account Balance and Percentage of GDP (2004-III 2018)

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Indonesia's current account balance has been in deficit since 2012, driven by declining performance in the goods account and a widening deficit in services and financial transactions. In Bank Indonesia's Balance of Payments (BOP), the current account deficit in 2012 reached US$24.4 billion, or 2.65% of national Gross Domestic Product (GDP).

The following year, the current account deficit increased to US$29.1 billion, representing 3.19% of GDP. This figure was the largest, both in value and as a percentage of GDP, since 2004 until the third quarter of 2018 (cumulative).

The current account deficit in the third quarter of 2018 amounted to US$8.8 billion, or 3.37% of GDP. This deficit increased by 10.89% compared to the previous quarter and surged by 92.58% from the same quarter in 2017. Increased export demand resulted in the goods trade balance showing a deficit of US$398 million in the third quarter, compared to a surplus of US$297 million in the previous quarter and a surplus of US$5.26 billion in the same quarter of the previous year.

"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."