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Jakarta Post

Indonesia books first current account surplus since 2011

  • Adrian Wail Akhlas

    The Jakarta Post

PREMIUM
Jakarta   /   Fri, November 20, 2020   /  07:00 pm
The Jakarta Post Image
One hundred dollar bills are seen in this photo illustration. (AFP/Getty Images/Brendan Smialowski)

Indonesia booked a US$1 billion current account surplus in the third quarter, the country’s first surplus since 2011, as imports fell faster than exports due to weak domestic demand amid the coronavirus pandemic, Bank Indonesia (BI) announced Friday. The central bank said the current account surplus was equal to 0.4 percent of the country’s gross domestic product (GDP) and a reversal from the $2.9 billion deficit – 1.2 percent of GDP – recorded in the April-to-June period. “The gains were supported by a surplus in the goods trade balance in line with improvement in exports amid subdued imports due to weak domestic demand,” the central bank said in a statement. Indonesia booked a trade surplus of nearly $8 billion in the July-to-September period as the country recorded $40.76 billion in exports and $32.77 billion in imports. Further, Southe...