Indonesia registered a current account deficit of USD 1.93 bln in Q2 2023, amounting to 0.5% of its GDP, contrasting with a surplus of USD 3.85 bln (or 0.9% of GDP) during the same quarter in the previous year. This deficit, the first since Q2 2021, is attributed to a sharp decrease in the trade surplus, influenced by declining commodity prices and a spike in domestic consumption. The current account surplus shrunk to USD 1.05 bln in H1 2023, compared to USD 4.40 bln during H1 of 2022.