RTTNews - Indonesia recorded a current account surplus of US$1.79 billion in the first quarter, reversing three consecutive quarters of deficits, a report from the Bank Indonesia showed. In the fourth quarter, the current account deficit stood at US$677 million.
During the first quarter, the surplus in the goods account increased to US$6.2 billion from US$4.15 billion in the fourth quarter. At the same time, the deficit in the services account decreased to US$2.5 billion from US$3.3 billion in the fourth quarter.
However, the income account deficit widened to US$3.03 billion from US$2.8 billion in the preceding quarter, and the surplus in the current transfers account reduced to US$1.14 billion from US$1.3 billion in the fourth quarter.
Meanwhile, the capital and financial account showed a surplus of US$2.36 billion in the first quarter, in contrast to a deficit of US$4.1 billion in the fourth quarter.
In the three months ended March, the international reserves stood at US$54.8 billion, sufficient to finance 6.1 months of imports and official external debt service payments, the central bank said.
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