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Financial News: Turkey November Current Account Balance Swings To Deficit

Turkey November Current Account Balance Swings To Deficit

01/13/2020 - 06:37:00 (RTTNews)

(RTTNews) - Turkey current account balance logged a deficit in November versus a surplus in the same month a year ago, figures from the central bank revealed on Monday.

The current account logged a deficit of $518 million in November versus a surplus of $1.04 billion in the same month last year. In October, the current account surplus was $1.558 billion.

The latest fall in the current account gap was mainly attributable due to the deficit in the trade in goods, decrease in services surplus and the decrease in the secondary income surplus.

The capital account revealed a deficit of $1 million in November, same as in the previous month.

The shortfall in the financial account widened to $3.115 billion in November from $32 million in the prior month.

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