Turkey’s current account deficit drops to 5 month-low with $3,15 billion
by Daily Sabah
ISTANBULSep 10, 2015 - 12:00 am GMT+3
by Daily Sabah
Sep 10, 2015 12:00 am
The current account deficit was $3.15 billion in July, the lowest level in the last five months. The deficit was also below economists' expectations of around $3.5 billion. The total current account deficit of the first seven months of the year amounts to $25.43 billion.
According to information released by the Central Bank of the Republic of Turkey (CBRT), the deficit increased $768 million when compared to the same month of the previous year. While the current account deficit was $2.44 billion in January, it totaled $45 billion over the last 12 months.
The foreign trade deficit increased $964 million in July when compared to the same month of the previous year to total $5.7 billion, and the net income from the services balance decreased $67 million to total $3.14 million.
While gold imports were $143 million in July 2014, they amounted to $639 million in July 2015. Under the services balance, the net income from the travel item decreased $44 million to $2.8 billion compared to the same month of the previous year.
Keep up to date with what’s happening in Turkey,
it’s region and the world.
You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.