May 20, 2020 / 3:23 AM / in 10 days

Indonesia's Q1 c/a deficit narrows, BoP swings to $8.5 bln deficit

JAKARTA, May 20 (Reuters) - Indonesia’s current account deficit narrowed in the first quarter to $3.9 billion or 1.4% of gross domestic product, from 2.8% the previous quarter, as imports fell and the deficit in services shrank, the central bank said on Wednesday.

The country’s financial and capital accounts had a $2.9 billion deficit in January-March, compared with the previous three month’s $12.6 billion surplus, due to portfolio outflows related to the COVID-19 pandemic, Bank Indonesia said.

The balance of payments had a $8.5 billion deficit in the first quarter, following a $4.3 billion surplus in the fourth quarter, it said. (Reporting by Gayatri Suroyo; Editing by Kim Coghill)

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