Published On: Mon, May 14th, 2018

Turkey’s current account deficit exceeds expectations in March 2018

Turkey’s current account deficit exceeds expectations in March

Vessel carrying export goods from Turkey

 

On the way to deputy and presidential elections Turkey’s economy has been sending signals not to please the administration. To provide an example, the current account deficit of the country was recorded at USD 4.81 billion in May 2018 whereas the experts forecasted an amount of USD 4.15 billion maximum.

The current account deficit was realized as USD 16.4 billion in the January-March period and the twelve-month current account deficit was recorded as USD 55 billion 380 million.

According to the evaluations of the Central Bank; the increase in foreign trade surplus by USD 1 billion 692 million to USD 4 billion 608 million compared to the same month of the previous year had a strong impact on this result as well, together with other factors.





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