The current account deficit in Indonesia widened 92.6 percent to USD 8.8 billion in the third quarter of 2018 from a USD 4.6 billion gap a year earlier. It was the largest current account deficit since Q2 2014, as the goods account switched to a USD 398 million shortfall from a USD 5,258 million surplus a year earlier, amid rising world oil prices, and the services gap widened to USD 2,215 million from USD 2,099 million, mostly due to transportation services. In contrast, the primary income deficit was down to USD 8,026 million from USD 8,930 million in Q3 2017 and the secondary income surplus increased to USD 1,793 million from USD 1,176 million. Current Account in Indonesia averaged -887.60 USD Million from 1981 until 2018, 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 -1400.00 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 -3900.00 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.