JAKARTA, May 20 (Reuters) - Indonesia's current account deficit widened in the first quarter to $2.2 billion, or 0.6% of gross domestic product (GDP), from 0.3% of GDP in the previous quarter, the central bank said on Monday.
The decline in Indonesia's exports and a reduction in primary income affected the current account in the period, Bank Indonesia (BI) said.
Portfolio outflows in the January-March period, especially in the bond market, pressured financial and capital accounts.
The first-quarter balance of payments outcome was a deficit of $6 billion, BI said. That compared to a $8.6 billion surplus in the fourth quarter of 2023.
BI kept its outlook for full-year 2024 current account deficit at a range of 0.1% to 0.9% of GDP, compared with last year's current account shortfall of 0.1% of GDP.
"The capital and financial account is predicted to record a surplus in line with our expectation of capital flows returning after global financial market uncertainty eases," BI said. (Reporting by Gayatri Suroyo; Editing by John Mair, Martin Petty)
