Current Account in Indonesia
Indonesia - Current AccountThe economy likely continued expanding close to 5% in the fourth quarter, with 100 basis points of rate cuts since June supporting domestic activity. In October, retail sales perked up, while tourist arrivals grew at a healthy pace following a choppy Q3. Moreover, government import substitution policies to limit the current account deficit likely supported the external sector’s contribution to growth. However, signs from the manufacturing sector are downbeat: The PMI was in contractionary territory for the fifth straight month in November amid lower new orders and output. This comes after the external sector buttressed the economy in the third quarter, offsetting softer domestic dynamics. On the political front, in late November Indonesia and South Korea finalized negotiations on a free trade deal. If ratified next year, the deal should support Indonesia’s embattled exporters.
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||7.10||-0.05 %||Dec 31|
|Exchange Rate||13,883||0.05 %||Jan 01|
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January 15, 2020
According to Statistics Indonesia, the country posted a trade deficit of USD 28 million in December, markedly smaller than the USD 470 million deficit expected by market analysts and the USD 1.1 billion deficit a year prior.
January 10, 2020
In November, retail sales increased 1.3% year-on-year, down from October’s 3.6% increase and markedly below the Central Bank’s initial estimate of 3.4%.
January 2, 2020
Consumer prices increased 0.34% in December over the prior month, up from November’s 0.14% increase.
January 2, 2020
The manufacturing Purchasing Managers’ Index (PMI) released by IHS Markit increased to 49.5 in December from 48.2 in November, marking the highest reading since July.
December 19, 2019
At its 18-19 December monetary policy meeting, Bank Indonesia (BI) left the seven-day reverse repo rate unchanged at 5.00%, as had been expected by market analysts.