On Friday (May 13) last week, the central bank (Bank Indonesia/BI) reported that current account deficit narrowed in the first quarter (Q1) of 2016, mainly driven by the growing trade surplus. The current account deficit fell from US$5.1 billion (2.4% of GDP) in Q4 2015 to US$4.7 billion (2.1% of GDP) in Q1 2016. The decline in the current account deficit was mainly supported by increased non-oil and gas trade surplus as a result of the greater fall of total imports (-5.2% qtq) than total exports (-2.6% qtq).To subscribe please click here
