Current Account in Indonesia
Indonesia - Current AccountThe economy likely grew strongly in the first quarter of the year. Private consumption should have performed well, boosted by low inflation and government fiscal support to low-income families; indeed, retail sales growth was elevated in January and February. Moreover, tourist arrivals were buoyant in the same two months. On the other hand, manufacturing was soft, with the PMI averaging lower in Q1 than in Q4 2018 amid ebbing global growth. External headwinds also partly explain the sharp fall in goods exports in Q1, which led the trade balance to worsen in annual terms despite a notable decline in imports. On the political front, general elections will be held on 17 April. Incumbent Joko Widodo is the bookies’ favorite, whose victory would signal policy continuity and likely see a renewed focus on infrastructure development.
Indonesia - Current Account Data
|Current Account (% of GDP)||-3.2||-3.1||-2.0||-1.8||-1.7|
5 years of economic forecasts for more than 30 economic indicators.
Indonesia Current Account Chart
Source: Statistics Indonesia and FocusEconomics calculations.
|Bond Yield||8.03||-0.05 %||May 13|
|Exchange Rate||14,415||0.05 %||May 13|
|Stock Market||6,135||-0.32 %||May 13|
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May 16, 2019
At its 15-16 May monetary policy meeting, Bank Indonesia (BI) left the seven-day reverse repo rate at 6.00% for the sixth consecutive meeting, in line with market expectations.
May 15, 2019
According to Statistics Indonesia, the country recorded a trade deficit of USD 2.5 billion in April, contrasting March’s revised USD 0.7 billion surplus and coming in substantially above market expectations of a mere USD 0.5 billion shortfall.
May 6, 2019
The economy expanded 5.1% in Q1 2019, according to recent data released by Statistics Indonesia.
May 5, 2019
In March, retail sales soared 10.1% over the same month in the prior year, up from February’s 9.1% figure and above the Bank’s initial estimate of 8.0%.
May 2, 2019
Conditions in Indonesia’s manufacturing sector improved at a slower pace in April, according to the Purchasing Managers’ Index (PMI) released by IHS Markit and Nikkei, with the PMI decreasing from 51.2 in March to 50.4.