Indonesia records first annual current account surplus in a decade

Indonesia's persistent current account deficits and reliance on foreign portfolio inflows to fund them were among the main contributors to the volatility of the rupiah currency in the past

Indonesia booked a current account surplus for the first time in a decade in 2021, data showed on Friday, but its balance of payments came under pressure in the final quarter due to bond market outflows, as well as higher imports and freight costs.

The central bank data showed Southeast Asia's largest economy recorded a $3.3 billion current account surplus for the whole of 2021, equivalent to 0.3% of gross domestic product, helped by a boom in commodity prices and strong demand from trade partners. It was Indonesia's first such surplus since 2011.

The 2021 balance of payments registered a $13.5 billion