Turkey’s current account posted a deficit of $5.46 billion in July, according to the balance of payments statistics for July published by the Central Bank on Sep. 11. Markets had expected a deficit of $4.45 billion before the announcement.
Thus, a deficit was recorded again after a surplus of $674 million in June.
In the first seven months of 2023, the current account deficit reached $42.28 billion dollars. In the January-July period, the deficit rose 31.4 percent compared to the same period last year.
Gold and energy excluded current account indicated net surplus of $717 million.
The services sector showed a net surplus of $5.99 million, with the travel category alone generating a net inflow of $4.79 million.
Primary income experienced a net outflow of $903 million, while secondary income saw a net outflow of $85 million.
Official reserves witnessed a $2,778 million increment. There was a net inflow of $392 million from direct investments and a net inflow of $1.16 billion from portfolio investments.