Current account gap at $5.9 billion in May
Turkey’s current account def c t has w dened by $516 m ll on year-on-year to reach nearly $5.88 b ll on n May, the Central Bank (CBRT) announced July 10. The country’s 12-month roll ng def c t reached $57.6 b ll on on balance of payments, the CBRT added. The goods def c t rose by $678 m ll on to $6.50 b ll on wh le the pr mary ncome gap ncreased by $214 m ll on to $1.16 b ll on n the month. “Serv ces tem recorded net nflow of $1.90 b ll on, ncreas ng by $768 m ll on compared to the same month of the prev ous year, ma nly stemm ng from a $549 m ll on net ncrease n travel revenues observed as $1.70 b ll on n May 2018,” t sa d. Meanwh le, the country’s current account gap n the f rst f ve months of th s year amounted to $27.7 b ll on, r s ng from $10.2 b ll on compared to the same per od last year.