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Financial News: Turkey Current Account Deficit Narrows In April

Turkey Current Account Deficit Narrows In April

06/13/2022 - 05:31:00 (RTTNews)

(RTTNews) - Turkey's current account deficit narrowed in April, data from the central bank showed on Monday.

The current account deficit narrowed to $2.737 billion in April from $5.789 billion in March.

The deficit increased by $1.222 billion compared to the same month of the previous year.

Net deficit in goods trade widened by $ 2.692 billion year-on-year to $4.433 billion.

Surplus in services was $2.699 billion, increasing by $1.482 billion from the previous year.

Under services, travel recorded a net inflow of $1.599 billion, which was $933 million larger than the inflow in the same month of the previous year.

Primary income outflow decreased to $970 million. Secondary income recorded $33 million net outflow, against an inflow of $307 million compared to the same month of the previous year.

In the January to April period, the current account logged a deficit of $21.073 billion versus $9.059 billion a year ago.

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