Current Account in Indonesia
Indonesia - Current AccountOn the heels of a stable year-on-year GDP growth figure in Q1, the economy appears to be losing momentum in the second quarter. Domestically, private spending likely weakened: Retail sales slowed to an eight-month low in May amid a broad-based deterioration, while inflation rose to its highest level in over three years. Moreover, persistent supply constraints led the manufacturing PMI to moderate notably in May. Similarly, although the external sector likely benefitted from surging commodity prices, merchandise exports growth cooled remarkably in May. The slowdown came after the country implemented a controversial ban on palm oil exports in May, which it quickly reversed after three weeks amid widespread criticism. In response, President Joko Widodo dismissed the trade minister and reshuffled his cabinet on 15 June. Nonetheless, the policy reversal stands to rally exports ahead.
Indonesia - Current Account Data
|Current Account (% of GDP)||-2.0||-1.8||-1.6||-2.9||-2.7|
5 years of economic forecasts for more than 30 economic indicators.
Indonesia Current Account Chart
Source: Statistics Indonesia and FocusEconomics calculations.
|Bond Yield||7.10||-0.05 %||Dec 31|
|Exchange Rate||13,883||0.05 %||Jan 01|
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September 15, 2022
Merchandise exports jumped 30.2% year-on-year in August, on the heels of July’s 32.0% upturn.
September 9, 2022
Retail sales rose 5.4% in year-on-year terms in August, which followed July's 6.2% increase.
September 1, 2022
Consumer prices fell 0.21% over the previous month in August, swinging from July's 0.64% increase.
August 10, 2022
Retail sales increased 8.7% year on year in July (June: +4.1% yoy).
August 5, 2022
GDP growth gained steam to 5.4% year on year in the second quarter, from 5.0% in the first quarter.