Jakarta – Bank Indonesia reported a balance of payments deficit of $9.1 billion in the first quarter of 2026 as rising global financial uncertainty pressured Indonesia's external accounts.
According to Bank Indonesia spokesperson Ramdan Denny Prakoso, deficits persisted in the current account as well as the capital and financial accounts.
"The current account deficit remained low amid the global economic slowdown. Meanwhile, the capital and financial account recorded a manageable deficit despite increasing uncertainty in global financial markets," Ramdan said in a statement on Friday.
Indonesia's foreign exchange reserves stood at $148.2 billion at the end of March, equivalent to 5.8 months of imports and government external debt payments.
During the same period, the current account posted a deficit of $4 billion, equivalent to 1.1% of gross domestic product, widening from a deficit of $2.5 billion, or 0.7% of GDP, in the fourth quarter of 2025.
Bank Indonesia said the non-oil and gas trade surplus remained positive, although smaller than in the previous quarter due to slowing global economic activity and disruptions in international trade supply chains.
The deficit in the primary income account also widened because of higher coupon and interest payments.
At the same time, the services balance improved in line with lower freight-service imports, the central bank said.
Meanwhile, the capital and financial account recorded a deficit of $4.9 billion in the first quarter of 2026, reversing sharply from a surplus of $9 billion in the previous quarter.
The deterioration reflected mounting volatility in global financial markets, capital outflows from emerging economies, and pressure on the rupiah amid higher global interest rates and geopolitical tensions.
Despite the deficit, Bank Indonesia said Indonesia's external sector remains resilient, supported by adequate foreign exchange reserves and continued export performance.