JAKARTA – Current account deficit was reported at USD 2.15 billion in Q3 2024, increasing 86% year-on-year (yoy) from USD 1.15 billion.

Based on Balance of Payment (BOP) of Bank Indonesia (BI) data quoted Thursday (21/11), this year-on-year  increase in current account deficit resulted from lower surplus in goods to USD 9.28 billion from USD 10.15 billion, higher deficit in services to USD 4.15 billion from USD 3.89 billion, higher deficit in primary income to USD 8.86 billion from USD 8.66 billion, and higher deficit in secondary income to USD 1.57 billion from USD 1.25 billion.

However, quarter-to-quarter, current account deficit saw improvement in Q3 2024 compared to USD 3.4 billion in Q2 2024. This is due to higher deficit in services as well as primary income detected in Q2 2024.

For the record, in Q2 2024, goods’ surplus was seen at USD 10.03 billion, services deficit was at USD 5.11 billion, primary income deficit was at USD 9.63 billion, and secondary income deficit was at USD 1.46 billion.

Going back further, in Q3 2022, BI reported current account surplus of USD 4.70 billion, contributed by goods’ surplus of USD 17.62 billion, services deficit of only USD 5.26 billion, primary income deficit of USD 8.93 billion, and secondary income surplus of USD 1.27 billion. (LK/ZH)