Turkey's current account gap shrinks in January
12-month rolling deficit close to $36.6B, says Turkish Central Bank
ANKARA
Turkey’s current account deficit narrowed by 8% year-on-year in January, the Turkish Central Bank said on Thursday.
The deficit was $1.87 billion in the month, down from $2.03 billion in January 2020, according to the bank’s balance of payments report.
The improvement was fueled by a decrease in the goods deficit, despite a lower services surplus registered in the month.
The figure was higher than market expectation as a group of 12 economists polled by Anadolu Agency this week projected a deficit of $1.7 billion for January, with their estimates ranging between $1.2 billion and $2.7 billion.
Turkey’s 12-month rolling deficit stood at nearly $36.6 billion in January, the bank said.
Gold and energy excluded current account posted a surplus of some $1.18 billion, down from $3 billion a year ago, it added.
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