Bank Indonesia said the deficit in service trade widened due to travel to Saudi Arabia for the hajj pilgrimage during the quarter, affecting the current account balance. — Reuters
JAKARTA: Indonesia’s current account deficit widened to 0.9% of gross domestic product (GDP), or US$3bil, in the second quarter from a revised deficit of 0.7% of GDP in the previous quarter, the central bank says.
The deficit as a percentage of GDP was at its widest since the second quarter of 2020, data from LSEG Workspace data showed.
Bank Indonesia (BI) said the deficit in service trade widened due to travel to Saudi Arabia for the hajj pilgrimage during the quarter, affecting the current account balance.
BI said earlier this week it expected the current account deficit to remain low, maintaining its outlook for a deficit of 0.1% to 0.9% of GDP this year.
The balance of payments for the second quarter had a deficit of around US$600mil, the central bank added.
This was in comparison with a US$6bil deficit in the first quarter. — Reuters
