Indonesia posts 2nd straight quarter of current account surplus, BoP at a deficit

CURRENT ACCOUNT - JAKARTA. Indonesia posted its second straight quarter of current account surplus in the last three months of 2020, amounting to $795 million, or 0.3% of gross domestic product, versus the third quarter's 0.4% surplus, central bank data showed on Friday.

Southeast Asia's largest economy reported a deficit in it financial and capital accounts in October to December, taking its balance of payments to a deficit of $156 million, compared with a $2.1 billion surplus in the previous quarter.

The current account deficit in 2020 shrank to 0.4% of GDP, from 2019's 2.7%. The balance of payments last year had a surplus of $2.6 billion, compared with 2019's $4.7 billion.

The balance of payments represent an economy's total transactions with foreign counterparts, while the current account records its trade in goods and services and other payments.

 

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