Current Account in Indonesia
Indonesia - Current AccountIn the second quarter of the year, growth should have been broadly unchanged from that of the first quarter. Domestic signs are generally encouraging: Retail sales grew rapidly in April and May, likely supported by buoyant consumer confidence, while the manufacturing PMI averaged higher than in Q1. However, goods exports plummeted in April and May, while tourist arrivals stagnated over the same period, potentially dampened by recent floods. That said, lower imports, amid government measures to contain the current account deficit, could have offset the damage to the external sector in the second quarter. Meanwhile, in other news, the government has recently announced a raft of tax incentives to support the property sector and firms who invest in employee training and research and development, in a bid to boost the economy.
Indonesia - Current Account Data
|Current Account (% of GDP)||-3.2||-3.1||-2.0||-1.8||-1.6|
5 years of economic forecasts for more than 30 economic indicators.
Indonesia Current Account Chart
Source: Statistics Indonesia and FocusEconomics calculations.
|Bond Yield||7.23||-0.05 %||Jul 11|
|Exchange Rate||14,065||0.05 %||Jul 11|
|Stock Market||6,417||-0.32 %||Jul 11|
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July 18, 2019
At its 17–18 July monetary policy meeting, Bank Indonesia (BI) lowered the seven-day reverse repo rate from 6.00% to 5.75%, as the majority of market analysts had expected.
July 15, 2019
According to Statistics Indonesia, the country recorded a trade surplus of USD 0.2 billion in June, matching May’s figure.
July 7, 2019
In May, retail sales expanded 7.7% in annual terms, up from April’s 6.7% rise but below the Bank’s initial estimate of 9.0%.
July 1, 2019
Consumer prices increased 0.55% in June over the previous month, down from May’s 0.68% increase.
July 1, 2019
Conditions in Indonesia’s manufacturing sector improved at a slower pace in June, according to the Purchasing Managers’ Index (PMI) released by IHS Markit and Nikkei, with the PMI decreasing from 51.6 in May to 50.6 in June.