Economy

Turkey's current account posts $1.71B gap in April

Central Bank says 12-month rolling deficit totals $32.7B

Ovunc Kutlu   | 14.06.2021
Turkey's current account posts $1.71B gap in April

ANKARA

Turkey's current account balance posted a deficit of some $1.71 billion in April, down by $3.58 billion from the same month last year, the Turkish Central Bank announced on Monday.

According to the balance of payments figures released by the bank, the country's 12-month rolling deficit totaled around $32.7 billion.

An Anadolu Agency survey last week showed that a group of 14 economists' projections ranged from $1.95 billion to $3.8 billion for April.

The survey also revealed that the end-2021 current account balance is expected to show a deficit of $27 billion.

In March, the current account posted a $3.33 billion deficit.

"This development is mainly driven by $2.3 billion decrease in the goods deficit compared to same month of the previous year recording $1.5 billion, as well as $811 million net inflow in services item, which was observed as $339 million net outflow in the same month of the previous year," a Central Bank statement said.

It said that excluding gold and energy, the current account indicated $942 million surplus, compared to $3.55 billion deficit in the same month last year.

Travel items under services saw a net inflow of $596 million.

The bank also said direct investments recorded net inflows of $56 million during the month.​​​​​​​

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