Current account posts a surplus of 36 million dollars in July
According to data from the Central Bank of the Republic of Turkey, the current account posted a surplus of 36 million dollars in July, while the balance excluding gold reached approximately 5 billion dollars.
According to balance of payments data released by the Central Bank of the Republic of Turkey, the current account recorded a surplus of 36 million dollars in July. The current account balance excluding gold came in at a surplus of 4 billion 972 million dollars.
July Current Account Details
In July, the current account recorded a surplus of 36 million US dollars. The current account balance excluding gold and energy managed to post a surplus of 4,972 million US dollars.
The foreign trade deficit defined in the balance of payments stood at 5,579 million US dollars during this period.
Annualized Foreign Trade and Current Deficit
According to annualized data, the current deficit was approximately 40.7 billion US dollars in July, while the balance of payments-defined foreign trade balance recorded a deficit of 77.2 billion US dollars.
In the same period, the services balance posted a surplus of 63.5 billion US dollars, whereas the primary income balance and secondary income balance recorded deficits of 25.2 billion US dollars and 1.9 billion US dollars, respectively.
Services Balance and Tourism Revenues
Net inflows originating from the services balance stood at 8,228 million US dollars in July.
Under this item, net revenues stemming from transportation services and travel items were 2,893 million US dollars and 5,968 million US dollars, respectively.
Direct Investments and Real Estate Data
Net inflows stemming from direct investments were recorded at 514 million US dollars in July.
While non-residents' total direct investments in Turkey increased by 1,154 million US dollars, residents' direct investments abroad increased by 640 million US dollars.
Portfolio Investments and Bond Issues
Portfolio investments recorded a net inflow of 5,841 million US dollars in July. It was observed that non-residents made net purchases of 1,969 million US dollars in the equity and investment fund market, and 2,368 million US dollars in the government domestic debt securities (GDDS) market.
Regarding bond issuances abroad, it was determined that non-residents made net purchases of 914 million US dollars and 1,710 million US dollars in bank and General Government issuances, respectively.
Loan Disbursements and Official Reserves
In terms of loan disbursements from abroad, banks and other sectors realized net borrowings of 1,713 million US dollars and 1,998 million US dollars, respectively.
Under other investments, non-resident banks' domestic deposits recorded a total net increase of 1,679 million US dollars, while official reserves experienced a net increase of 14,252 million US dollars this month.