Indonesia: Current Account surplus increased in Q2 – UOB

Pablo Piovano FXStreet

Economist at UOB Group Enrico Tanuwidjaja reviews the recently published Current Account results in the Indonesian economy.

Key Takeaways

“Indonesia’s current account posted a wider surplus amounting to USD 3.9bn (1.1% of GDP) in 2Q22, up significantly from a surplus of USD 0.4bn (0.1% of GDP) in 1Q22.”

“Indonesia also posted a balance of payment (BOP) surplus of USD 2.4bn in 2Q22, supported by a significantly larger current account surplus and a narrower capital and financial account deficit.”

“For 2022, we forecast that current account will return to a deficit of 0.2% of GDP as imports demand is likely to hasten up, while exports revenue is expected to moderate significantly.”

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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