Indonesia swings into US$1.1b payments deficit in 2015

Jakarta

INDONESIA'S balance of payments swung to a deficit of US$1.1 billion in 2015 from a surplus of US$15.2 billion in 2014, though its current account deficit narrowed last year, Bank Indonesia (BI) said on Friday.

Less positively for current account, the fourth-quarter deficit of US$5.11 billion was the largest quarterly deficit for the year, as exports from South-east Asia's largest economy dropped by 19.66 per cent from the same period a year earlier.