Indonesia’s current account deficit widened sharply to USD 12.49 billion in Q2 2026 from USD 2.89 billion in the same period a year earlier. It marked the largest current account deficit on record and was equivalent to 3.3% of the country’s GDP, as the trade surplus narrowed sharply to USD 1.32 billion from USD 10.52 billion in Q2 2025, mainly due to a surge in imports amid higher oil prices linked to the Middle East conflict. Meanwhile, the services deficit increased to USD 5.98 billion from USD 5.30 billion a year earlier, while the primary income deficit inched down to USD 9.67 billion from USD 9.79 billion. The secondary income surplus climbed slightly to USD 1.75 billion from USD 1.68 billion.