Turkey’s current account sees $1.2B surplus in July


Turkey’s current account balance posted a $1.2 billion surplus this July, improving from a $2.2 billion deficit in July 2018, the country’s Central Bank announced Friday. 

The country’s 12-month rolling surplus totaled $4.4 billion, according to Central Bank of Turkey (CBRT) data. 

“This development in the current account is mainly attributable to a $2.4 billion decrease in the goods item recording net outflow of $2.5 billion, as well as a $959 million increase in services inflow to $4.3 billion,” the bank said.

According to an Anadolu Agency survey on Wednesday, economists projected the Turkish economy would run a current account surplus of $1.1 billion in July.

A group of 14 economists’ estimates for the month ranged between surpluses of $160 million and $1.5 billion.

The bank data showed the gold and energy-excluded current account surplus stood at $4.6 billion, up $2.4 billion from same month last year. 

Net inflows from travel items under services surged $637 million to nearly $4 billion during the same period. 

Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.

AdvertisementThe new Emirates Premium Economy has arrived on the latest Emirates A380 Emirates Get the best value from your summer holiday with exclusive offers and discounts across Dubai and the UAE with Emirates Pass

What do you think?