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Financial News: Turkish Current Account Deficit Widens In March

Turkish Current Account Deficit Widens In March

05/16/2022 - 10:12:00 (RTTNews)

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

The current account deficit widened to $5.554 billion in March from $5.441 billion in February.

The annual shortfall was mainly driven by the net surplus of $2.329 billion in services, increasing by $1.472 billion from the previous year and the net deficit of $6.342 billion in the goods that widened by $3.356 billion.

Under services, travel recorded a net inflow of $1.450 billion, which was $708 million larger than the inflow in the same month of the previous year.

Primary income outflow increased by $174 million on net basis in March. Secondary income recorded $144 million net outflow, against an inflow of $27 million compared to the same month of the previous year.

The financial account showed a surplus of $529 million in March.

In the January to March quarter, the current account logged a deficit of $18.07 billion.

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