13.02.2024 12:42:16

Turkey's Current Account Deficit Narrows In December

(RTTNews) - Turkey's current account deficit decreased somewhat in December, largely due to positive developments in primary and secondary income accounts, according to data published by the Central Bank of the Republic of Turkey on Tuesday.

The current account deficit decreased to $2.09 billion from $2.77 billion in November.

The deficit on trade in goods totaled $4.59 billion, up from the $4.49 billion shortfall a month ago, as imports grew faster than exports.

The surplus on services trade shrank to $2.57 billion from $3.05 billion in March. Under services, travel items recorded a net inflow of $1.69 billion.

Primary income showed a shortfall of $233 million, smaller than November's $1.33 billion deficit. At the same time, the secondary income turned into a surplus of $154 million after posting a deficit of $14 million.

The capital account deficit narrowed to $8 million from $14 million in the preceding period. The financial account shortfall came in at $3.18 billion, compared to $3.77 billion in December, data showed.