Turkey’s current account balance posts surplus in Oct.

Dünya Executive - - OVERVIEW -

Turkey’s current account balance posted a surplus n October for the th rd month n a row, the country’s Central Bank announced on December 10. In October, the country’s current account surplus amounted to $2.77 b ll on, mprov ng from a def c t of $3.83 b ll on n the same month last year, accord ng to the Bank’s balance of payments report. In August, the balance posted a surplus for the f rst t me over the past three years at $2.59 b ll on followed by $1.83 b ll on surplus n September. Exclud ng gold and energy, current account balance jumped to a $6.17 b ll on surplus n October versus $466 m ll on def c t recorded n the same month of 2017. “The current account surplus s ma nly attr butable to the goods tem, wh ch showed a $799 m ll on surplus n contrast to the $5.64 b ll on def c t observed n the same month of the prev ous year, as well as the $447 m ll on ncrease n net nflows n the serv ces tem. reach ng $3.03 b ll on,” the Bank sa d. It stated that the travel tem under serv ces recorded a net nflow of nearly $2.65 b ll on, up $501 m ll on year-on-year. The Bank also sa d that the 12-month roll ng def c t fell to $39.4 b ll on as of October.

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