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.