Indonesia's current account deficit widened to USD 6.97 billion in the March quarter 2019 from an upwardly revised USD 5.34 billion gap a year earlier, equivalent to 2.6 percent of the country's gross domestic product. The goods account surplus narrowed sharply to USD 1.06 billion from USD 2.32 billion a year ago, with exports falling 8.6 percent and imports declining 6.1 percent and the services account gap increased to USD 1.79 billion from USD 1.57 billion. Also, the primary income shortfall rose to USD 8.10 billion from USD 7.39 billion and the secondary income deficit advanced to USD 1.87 billion from USD 1.44 billion. Current Account in Indonesia averaged -970.71 USD Million from 1981 until 2019, reaching an all time high of 3795 USD Million in the third quarter of 2006 and a record low of -10125.60 USD Million in the second quarter of 2013.
Current Account in Indonesia is expected to be -5000.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Indonesia to stand at -4500.00 in 12 months time. In the long-term, the Indonesia Current Account is projected to trend around -3100.00 USD Million in 2020, according to our econometric models.