Jakarta. Indonesia’s balance of payments (BOP) swung into a deep deficit of $6.7 billion in the second quarter of 2025, the steepest shortfall since Q2 2023 when it recorded a deficit of more than $7 billion, according to Bank Indonesia on Thursday.

The latest figure marked a sharp widening from a deficit of just $800 million in Q1 2025, highlighting mounting external pressures amid a slowing global economy and volatile financial markets.

Despite the deterioration, Bank Indonesia’s Head of Communications Junanto Herdiawan said the country’s external position remains manageable. “Monetary authorities continue to closely monitor global economic developments that could affect Indonesia’s balance of payments,” he said in a statement.

Indonesia’s current account deficit reached $3 billion in Q2 2025, equivalent to 0.8 percent of GDP, compared with a minor $200 million deficit in the previous quarter. It was the country’s largest current account gap since Q1 2020, when the deficit hit $3.36 billion.

The trade balance remained in surplus but narrowed as weaker global demand and falling commodity prices eroded export earnings. Indonesia booked a $10.6 billion trade surplus in Q2, down from $13 billion in the first quarter.

On the financial side, Indonesia posted a capital and financial account deficit of $5.2 billion in Q2. Analysts said the figure reflected continued portfolio outflows, as investors shifted to safer assets amid global uncertainty.