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Turkey Current Account Deficit Widens To $3.7 Bln


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Turkey’s current account deficit increased notably in November, primarily due to the widening of the shortfall in goods trade, data from the central bank showed on Wednesday.

The current account deficit widened to $3.666 billion in November from $352 million in October.

The goods trade deficit rose to $7.122 billion in November from $6.47 billion in October, while the surplus on services shrank to $3.683 billion from $6.716 billion.

There was a $5.265 billion surplus in the gold and energy excluded current account. Under services, travel items recorded a net inflow of $2.648 billion in November.

The primary income balance showed a deficit of $240 million in November, decreased from $652 million a month ago.

The secondary income surplus, meanwhile, decreased from $54.0 million the month before to $13.0 million.

The capital account deficit stood at $1.0 million, while the financial account turned to a deficit of $2.768 billion from a surplus of $783 million a month ago.

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