Cur­rent ac­count sees $1.2B sur­plus in July

Dünya Executive - - OVERVIEW -

Tur­key’s cur­rent ac­count bal­ance posted a $1.2 bil­lion sur­plus this July, im­prov­ing from a $2.2 bil­lion deficit in July 2018, the coun­try’s Cen­tral Bank an­nounced last week. The coun­try’s 12-month rolling sur­plus to­taled $4.4 bil­lion, ac­cord­ing to Cen­tral Bank of Tur­key (CBRT) data. “This de­vel­op­ment in the cur­rent ac­count is mainly at­trib­ut­able to a $2.4 bil­lion de­crease in the goods item recording net out­flow of $2.5 bil­lion, as well as a $959 mil­lion in­crease in ser­vices in­flow to $4.3 bil­lion,” the Bank said. The data showed the gold and en­ergy-ex­cluded cur­rent ac­count sur­plus stood at $4.6 bil­lion, up $2.4 bil­lion from same month last year. Net in­flows from travel items un­der ser­vices surged $637 mil­lion to nearly $4 bil­lion dur­ing the same pe­riod.

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