Turkey Current Account Deficit Widens

(RTTNews) - Turkey's current account deficit increased in February from a year ago, according to data published by the Central Bank of the Republic of Turkey on Monday.

The current account shortfall rose to $4.4 billion from $3.3 billion in the corresponding month last year.

The deficit on trade in goods totaled $5.7 billion, up from the $4.7 billion shortfall a month ago, as imports grew faster than exports. Meanwhile, the surplus on services trade grew to $2.4 billion from $2.3 billion.

Primary income showed a shortfall of $1.1 billion, widened from the prior month's $0.8 billion deficit. At the same time, the secondary income showed a surplus of $32.0 million versus a $123 million deficit last year.

According to annualized data, the current account deficit increased almost to $12.8 billion in February, while the goods recorded a deficit of $58.8 billion.