Indonesia’s current account surplus continued to increase in the September quarter, on the back of stronger non-oil and gas export performance, data from Bank Indonesia showed on Friday.
The current account surplus rose to $4.4 billion in the third quarter from $4.0 billion in the second quarter.
The current account performance improved as a result of persistently strong export demand from trading partner countries and high international commodity prices, as well as a narrower oil and gas trade deficit resulting from a downward global oil price.
The surplus on goods trade rose to $17.51 billion in the September quarter from $16.79 billion in the previous three-month period. On the other hand, the services trade deficit widened from $4.94 billion to $5.27 billion.
The primary income account deficit narrowed slightly to $9.30 billion from $9.36 billion. Meanwhile, the secondary income account surplus shrank to $1.4 billion from $1.5 billion.
The capital account balance was a surplus of $2.0 million in the third quarter, while the financial account deficit widened notably to $6.01 billion.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
