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Financial News: Indonesia Current Account Surplus Rises In Q3

Indonesia Current Account Surplus Rises In Q3

11/18/2022 - 08:41:00 (RTTNews)

(RTTNews) - Indonesia's current account surplus continued to increase in the September quarter, on the back of stronger non-oil and gas export performance, data from Bank Indonesia showed on Friday.

The current account surplus rose to $4.4 billion in the third quarter from $4.0 billion in the second quarter.

The current account performance improved as a result of persistently strong export demand from trading partner countries and high international commodity prices, as well as a narrower oil and gas trade deficit resulting from a downward global oil price.

The surplus on goods trade rose to $17.51 billion in the September quarter from $16.79 billion in the previous three-month period. On the other hand, the services trade deficit widened from $4.94 billion to $5.27 billion.

The primary income account deficit narrowed slightly to $9.30 billion from $9.36 billion. Meanwhile, the secondary income account surplus shrank to $1.4 billion from $1.5 billion.

The capital account balance was a surplus of $2.0 million in the third quarter, while the financial account deficit widened notably to $6.01 billion.

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