Turkey’s current account balance posts $619M deficit in August

Turkey’s current account balance posted a deficit of $619 million in August, the country's central bank announced on Oct. 11. The deficit was approximately $5.5 billion in July.

Duvar English

Turkey’s current account posted a deficit of $618 billion in July, according to the balance of payments statistics published by the Central Bank on Oct. 11. 

On the other hand, gold and energy excluded current account balance saw a net surplus of $6.15 million in the month.

A deficit of $5.46 billion was recorded in July as well.

In August, the goods deficit was at $7.1 million, while services posted a net surplus of $7.3 million. Travel item, under services, recorded a net inflow of $5.75 million. 

The bank stated, “Primary income recorded a net outflow of $922 million, whereas secondary income indicated a net inflow of $141 million.”

Official reserves posted a net increase of $5.1 billion this month.

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Topics central bank current account balance current account deficit official reserves