Indonesia Current Account to GDP Ratio
Indonesia's current account to GDP was a deficit of -0.63% in 2024. This is the lowest deficit since 2019, widening from the -0.15% deficit in 2023. This deterioration stems from a worsening services account deficit, a narrowing trade surplus and a slight increase in the primary income deficit. The services account deficit rose to USD 5.15 billion in the second quarter of 2024 from USD 4.60 billion in the previous year. It further increased to USD 4.15 billion in the third quarter of 2024 from USD 3.90 billion a year prior, due to more outbound tourism and fewer foreign visitor arrivals. The trade surplus slightly decreased to USD 9.96 billion in the second quarter of 2024 from USD 9.98 billion in the previous year. It narrowed to USD 9.29 billion in the third quarter of 2024 from USD 10.16 billion in the third quarter of 2023, reflecting weaker global demand for exports and faster import growth driven by domestic demand. The primary income deficit was USD 9.29 billion in the second quarter of 2024, nearly unchanged from USD 9.30 billion in the previous year. It then rose to USD 8.86 billion in the third quarter of 2024 from USD 8.67 billion in the third quarter of 2023, showing ongoing challenges in investment earnings and increased dividend payments. Indonesia's record low current account to GDP was -6.8% in 1983 and its record high was 4.8% in 2000.
Yearly Historical Data (1980-2024)
(in %)Indonesia's current account to GDP shows the current account balance as a percentage of its gross domestic product. It's calculated by dividing the current account balance, the sum of net exports, net primary income and net secondary income, by the GDP, then multiplying by 100. A positive value indicates a surplus, a negative value a deficit.