ID : Economic - 1Q21 balance of payments

The current account (CA) fell into a deficit of US$1.0bn or 0.4% of GDP, as better domestic demand lowered the goods and services balance. Favourable commodity terms of trade, global economic recovery to moderate the impact of domestic-demand driven increases in imports on CA balance. Hence, our CA deficit forecast of 1.0% of GDP for 2021 is still lower than the 2012-2019 average of 2.5% of GDP.

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