Turkey Current Account Surplus Falls In October

Turkey's current account surplus declined in October largely reflecting widening trade deficit, data from the central bank revealed Wednesday.

The current account surplus fell to $1.55 billion in October from $2.35 billion in September. In the same period last year, the surplus was $2.62 billion.

The decline was mainly driven by a $924 million deficit in goods trade versus a $856 million shortfall a month ago. Gold and energy excluded current account surplus came in at $5.33 billion.

Travel item under services recorded a net inflow of $2.75 billion, down from $3.47 billion in September.

Investment income under primary income showed a net outflow of $951 million versus $1.02 billion outflow a month ago.

At the same time, secondary income logged a net inflow of $132 million versus $112 million in the previous month.



by WooHoo Ireland


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