Deficit widens by $5.3B on annual basis, official data shows
Turkiye’s current account balance registered a $7.1 billion deficit in January, widening by $5.3 billion year-on-year, according to official data released on Friday.
This stemmed from a significant rise in the goods trade deficit, which soared by $6.4 billion to reach $8.3 billion, the Turkish Central Bank said.
The country’s 12-month rolling deficit stood at $20.2 billion this January.
The gold and energy-excluded current account posted a $1.5 billion surplus, up from a surplus of $1.3 billion in the same month of last year.
A group of 26 economists surveyed by Anadolu Agency this week projected the current account deficit would come in at $6.97 billion in January.
The survey showed the end-2022 current account balance is forecast to see a deficit of $26.52 billion.
In December 2021, the current account had a deficit of $3.84 billion.