Turkey's current account balance exceeded 4 billion dollars in August
According to Central Bank data, a strong surplus was recorded in the current account in August, while the annualized current account deficit declined.
According to the balance of payments data for August announced by the Central Bank of the Republic of Turkey, the country's current account posted a surplus of 4 billion 53 million dollars. Excluding gold and energy, a surplus of 8 billion 205 million dollars was achieved.
August Data on Current Account
The Central Bank of the Republic of Turkey shared the balance of payments data for August with the public. According to the announced data, Turkey's current account gave a surplus of 4 billion 53 million dollars in August.
Situation Excluding Gold and Energy
In the calculations made by excluding the gold and energy items in August, a positive balance of 8 billion 205 million dollars was recorded in the current account.
Foreign Trade and Annual Table
The foreign trade deficit defined by the balance of payments was 3 billion 746 million dollars in the same month. According to annualized data, the current account deficit materialized at around 42.1 billion dollars in August.
Services and Income Balance
During the same period, the services balance recorded a surplus of 63.9 billion dollars. The primary income balance gave a deficit of 25.6 billion dollars, and the secondary income balance gave a deficit of 1.9 billion dollars. Net inflows driven by the services balance amounted to 9 billion 711 million dollars.
Tourism and Transportation Items
In August, net revenues of 3 billion 265 million dollars were obtained from transportation services, and 7 billion 285 million dollars from the travel item.
Direct and Portfolio Investments
Net inflows resulting from direct investments in August were calculated as 141 million dollars. Portfolio investments, on the other hand, yielded a net outflow of 1 billion 34 million dollars in the same period.