Indonesia: Current Account surplus increased in Q2 – UOB

Economist at UOB Group Enrico Tanuwidjaja reviews the recently published Current Account results in the Indonesian economy.

Key Takeaways

“Indonesia’s current account posted a wider surplus amounting to USD 3.9bn (1.1% of GDP) in 2Q22, up significantly from a surplus of USD 0.4bn (0.1% of GDP) in 1Q22.”

“Indonesia also posted a balance of payment (BOP) surplus of USD 2.4bn in 2Q22, supported by a significantly larger current account surplus and a narrower capital and financial account deficit.”

“For 2022, we forecast that current account will return to a deficit of 0.2% of GDP as imports demand is likely to hasten up, while exports revenue is expected to moderate significantly.”