Indonesia's Current Account Gap Shrinks in Q1, but Balance of Payments in Deficit
Jakarta. Indonesia's current account deficit shrank in the first three months of 2016 from the previous quarter to $4.67 billion, or 2.14 percent of gross domestic product (GDP), the central bank said on Friday (13/05).
Bank Indonesia revised the deficit for October-December to $5.07 billion, or equivalent to 2.37 percent of GDP, on Friday. It previously reported a $5.11 billion deficit, or 2.39 percent of GDP, for the fourth quarter in a report in February.
The country's balance of payments in January-March slipped back into a deficit of $287 million, from a $5.09 billion surplus in the final quarter of 2015.
The current account is the broadest measure of a country's foreign trade in both goods and services. It is part of the balance of payments, which summarize an economy's transactions with the rest of the world.
Reuters
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