ADB Projects Indonesia's Current Account Balance at 0% in 2022

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Dzulfiqar Fathur Rahman 06/04/2022 18:10 WIB

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The Asian Development Bank (ADB) projects Indonesia's current account surplus will shrink to 0% of gross domestic product (GDP) in 2022.

Indonesia's Current Account Balance as a Percentage of GDP (2020-2023)

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ADB Projects Indonesia's Current Account Balance at 0% in 2022

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Indonesia's Current Account Balance as a Percentage of GDP (2020-2023)

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The Asian Development Bank (ADB) projects that Indonesia's current account surplus will shrink to 0% of its gross domestic product (GDP) in 2022, driven by increased imports.

In 2021, Indonesia's current account surplus reached 0.28% of GDP, according to data from Bank Indonesia (BI). This surplus reversed the 2020 current account deficit of 0.42% of GDP.

The ADB's projection for Indonesia's current account is more optimistic than BI's, which forecasts a deficit of between 1.1% and 1.9% of GDP in 2022.

The ADB, however, projects that Indonesia will only record a current account deficit of 0.5% of GDP in 2023.

According to data from the Central Statistics Agency (BPS), in February 2022, Indonesia recorded goods imports worth US$16.64 billion, a 25.43% increase year-on-year. During this period, the trade balance of goods still recorded a surplus of $3.83 billion.

Editor : Adi Ahdiat

"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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ADB Projects Indonesia's Current Account Balance at 0% in 2022

ADB Projects Indonesia's Current Account Balance at 0% in 2022

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ADB Projects Indonesia's Current Account Balance at 0% in 2022

ADB Projects Indonesia's Current Account Balance at 0% in 2022

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