The current account is forecast to sustain its underlying surplus trend but the scale of the surplus will gradually narrow to USD 10.5 billion this year and to USD 5.5 billion next year.
The goods account surplus will narrow in scale as import growth outstrips that of exports and the services, income and transfers account will move more deeply into the red owing to sharply increased overseas travel payments. The future outlook is surrounded by no small degree of uncertainty with the opposing interplay of upside and downside risks.