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Financial News: Turkey Current Account Deficit Widens In July

Turkey Current Account Deficit Widens In July

09/12/2022 - 09:07:00 (RTTNews)

(RTTNews) - Turkey's current account deficit increased at the start of the third quarter, data from the central bank showed on Monday.

The current account deficit widened to $4.010 billion in July from $3.492 billion in June.

The goods trade deficit rose to $9.308 billion in July from $6.385 billion in June, while the surplus on services grew to $5.778 billion from $3.952 billion.

There was a $3.737 billion surplus in the gold and energy excluded current account versus $3.124 billion in the corresponding month last year.

Under services, travel items recorded a net inflow of $4.090 billion in July.

The primary income balance showed a deficit of $559 million in July, decreased from $948 million a month ago.

Meanwhile, the second income turned to a surplus of $79 million from a shortfall of $111 million in the preceding month.

The capital account deficit stood at $17 million, while the financial account registered a surplus of $1.446 billion.

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