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Financial News: Turkey Current Account Deficit Narrows In February

Turkey Current Account Deficit Narrows In February

04/11/2018 - 05:52:00 (RTTNews)

(RTTNews) - Turkey's current account deficit decreased notably in February, data from the Central Bank of the Republic of Turkey showed Wednesday.

The current account deficit fell to $4.15 billion in February from $7.04 billion in January. In the corresponding month last year, the shortfall was $2.6 billion.

The deficit on goods trade narrowed to $4.44 billion in February from $7.65 billion in the preceding month. At the same time, the surplus on services declined to $0.8 billion from $0.9 billion.

The capital account balance came in at a shortfall of $1.0 million in February versus $33 million a month ago. On the other side, the financial account deficit decreased markedly from $8.2 billion to $2.8 billion.

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