BI Flags $6.4 Billion BoP Deficit but Strong Reserves at $148.7 Billion
Jakarta. Indonesia’s balance of payments remained solid in the third quarter of 2025 even as the period booked a $6.4 billion deficit, Bank Indonesia said on Thursday.
The central bank highlighted the country’s strong external buffers, with foreign reserves reaching $148.7 billion at the end of September, equal to six months of imports and government external debt servicing.
“Indonesia’s balance of payments performance in Q3 2025 remained healthy,” said Ramdan Denny Prakoso, Bank Indonesia’s Executive Director of the Communication Department.
The current account swung to a $4.0 billion surplus, or 1.1 percent of GDP, reversing the previous quarter’s $2.7 billion deficit. The improvement was supported by stronger non-oil and gas trade and a recovery in services, helped by a jump in foreign tourist arrivals.
BI also reported a narrower primary income deficit, mainly due to lower dividend and interest payments after the peak distribution period passed. However, the oil and gas balance stayed under pressure as global crude prices climbed.
On the capital and financial account, conditions were relatively stable amid global market uncertainty. Direct investment booked a surplus, reflecting investor confidence in Indonesia’s economic outlook. Portfolio flows, however, recorded net outflows, while other investments slipped into deficit due to higher private external loan repayments. Overall, the capital and financial account posted an $8.1 billion deficit in Q3.
Ramdan said BI will continue monitoring global economic developments while strengthening its policy mix in coordination with the government and other authorities. “Going forward, Bank Indonesia will closely observe global dynamics that may affect the balance of payments outlook and reinforce its policy response to safeguard external resilience,” he said.
For the full year, BI expects the balance of payments to remain robust, supported by a sustained non-oil and gas trade surplus and continued foreign direct investment inflows.
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