10/12/2020
Current Account Balance Yielded USD 4.6 Billion Deficit in August
Raising the foreign trade deficit to USD 5.3 billion with USD 3.9 billion increase compared to the same month of the previous year and the net entires of services balance origin to recede to USD1.2 billion with a USD4.6 billion decrease compared to the same month of the previous year have all been effective on current deficit ...
T. C. Central Bank (TCMB) has announced August's current account balance data. Accordingly, in the current account USD 4.631 million deficit yielded in August. As a result of this, twelve-month current account deficit has been USD23.203 million. In August the previous year, the current account balance yielded USD 3.314 million surplus. Raising balance of payments denominated foreign trade deficit to USD5.347 million with an increase of USD3.948 million compared to the same month of the previous year and decrease of services balance originated net entires to recede to USD1.179 million with USD 4.602 million decrease compared to the same month of the previous year have all been effective in this development. The current account, gold and energy excluded, yielded USD 973 million surplus. The surplus was USD6.249 million in August last year. USD 2 billion exit from portfolio investments Net entries originating from direct investments have been USD 374 million. USD1.973 million net exit experienced in portfolio investments. In terms of credits secured from abroad, banks have realized USD 100 million, General Government USD 62 million and other sectors USD 774 million have realized net repayment. In August, USD 7.602 million net decrease is seen in official reserves.
Annual Report
