JAKARTA (Yosefardi) – Bank Indonesia recorded current account deficit of US$4 billion in fourth quarter of 2013, narrowed from US$8.4 billion in previous quarter.
In first quarter of 2013, current account deficit reached US$5.87 billion, then jumped to US$9.9 billion in second quarter of last year.
The recovery on trade deficit for non oil and gas products helped to cut current account deficit in fourth quarter of 2013.
The ratio of current account deficit to gross domestic product (GDP) also declined to 1.98% in fourth quarter of 2013, from 3.8% in previous quarter.
While trade surplus reached US$7 billion in fourth quarter of last year, compared to US$2.8 billion in previous quarter and US$1.6 billion in second quarter of last year.
The improving current account deficit helped the rupiah to appreciate against the US Dollar. At 10.22 am Jakarta time, the rupiah was traded at Rp11,890 against the US Dollar.