No.28/165/DKom
Indonesia's Balance of Payments (BOP) performance was maintained in the second quarter of 2026 amid persistently high global uncertainty. Indonesia's BOP in the second quarter of 2026 recorded a USD0.9 billion deficit, significantly lower than the USD9.1 billion deficit recorded in the first quarter of 2026. The current account recorded a wider deficit due to a wider oil and gas trade deficit and a lower non-oil and gas trade surplus. Meanwhile, the capital and financial account recorded a surplus, underpinned by increasing direct investment and portfolio investment inflows, thereby supporting the resilience of Indonesia's BOP. Consequently, the position of reserve assets at the end of June 2026 remained high at USD145.6 billion, equivalent to 5.6 months of imports or 5.4 months of imports and servicing government external debt, which is well above the international adequacy standard of around 3 months of imports.
The current account recorded a wider deficit driven by several factors that are expected to be temporary. The oil and gas trade deficit widened due to higher oil imports amid elevated global oil prices. In addition, the non-oil and gas trade surplus narrowed driven by a higher non-oil and gas imports to support sustained domestic economic activity. The primary income account deficit increased in line with primary income payments. Meanwhile, the secondary income account surplus remained relatively stable compared with the first quarter of 2026. Against this backdrop, the current account recorded a USD12.5 billion deficit (3.3% of GDP) in the second quarter of 2026, wider than the USD3.6 billion deficit (1.0% of GDP) recorded in the previous period.
The capital and financial account recorded a surplus, supported by increasing direct investment and portfolio investment inflows, thereby supporting the BOP. Direct investment recorded a higher surplus than in the previous period, reflecting maintained positive investor perception of Indonesia's economic outlook and investment climate. Portfolio investment also recorded a larger surplus in line with higher yields on domestic financial instruments. Meanwhile, other investments recorded a smaller deficit. Consequently, the capital and financial account recorded a USD12.0 billion surplus in the second quarter of 2026, following a USD4.8 billion deficit in the first quarter of 2026.
Moving forward, Bank Indonesia expects the BOP prospects will remain solid, thereby supporting external resilience. The current account deficit is projected to narrow, supported by improved export prospects in line with higher global commodity prices, including Indonesia's key export commodities, as well as the positive impact of lower reciprocal tariffs imposed by the United States (US). The capital and financial account is expected to remain surplus, underpinned by continued foreign capital inflows amid attractive returns on domestic financial instruments and a positive outlook for the Indonesian economy. In addition, policy synergy between the Government and Bank Indonesia will continue to be strengthened to support BOP performance in 2026 amid persistently high global uncertainty.
Further information and data are presented in the Q2/2026 Indonesia Balance of Payments Report, accessible via the official Bank Indonesia website.
Jakarta, 21st August 2026
Communication Department
Ramdan Denny Prakoso
Executive Director
