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Financial News: Turkey's Current Account Gap Narrows Sharply

Turkey's Current Account Gap Narrows Sharply

05/13/2019 - 05:52:00 (RTTNews)

(RTTNews) - Turkey's current account deficit declined sharply in March, figures from the central bank revealed Monday.

The current account shortfall decreased by $4.14 billion from last year to $589 million in March.

This development in the current account was mainly attributable to $3.72 billion decrease in the goods deficit recording net outflow of $916 million, data showed.

Services item realized net inflow of $1.29 billion increasing by $113 million compared to March 2018. At the same time, investment income under primary income item indicated a net outflow of $1.07 billion.

Secondary income recorded net inflow of $199 million increasing by $195 million in comparison to the same month of the previous year.

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