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Financial News: Turkey Current Account Deficit Narrows In June

Turkey Current Account Deficit Narrows In June

08/11/2022 - 06:37:00 (RTTNews)

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

The current account deficit narrowed to $3.458 billion in June from $6.568 billion in May. It was expected to drop to $3.40 billion.

The goods trade deficit decreased to $6.426 billion in June from $8.878 billion in May, and the shortfall on services fell from $5.630 to $2.402 billion.

There was a $4.294 billion surplus in the gold and energy excluded current account versus $1.931 billion in the corresponding month last year.

Under services, travel items recorded a net inflow of $2.728 billion in June.

Secondary income indicated a net outflow of $110 million, while the primary income deficit was $3.348.

The capital account was balanced in June, while the financial account registered a surplus of $2.486 billion.

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