Turkey's current account balance posts surplus in October

Turkey's current account balance posts surplus in October

ANKARA
Turkeys current account balance posts surplus in October

Turkey’s current account balance posted a surplus in October for the third month in a row, the country’s central bank announced on Dec. 11.

In October, the country’s current account surplus amounted to $2.77 billion, improving from a deficit of $3.83 billion in the same month last year, according to the Turkish Central Bank’s balance of payments report.

In August, the balance posted a surplus for the first time over the past three years with a $2.59-billion surplus, and then showed a 1.83-billion surplus in September.

Meanwhile, the productivity of Turkey's industry rose 0.57 percent year-on-year in the third quarter of 2018, the Ministry of Industry and
Technology announced on Dec. 11.

Official data showed that calendar adjusted index of production per person employed valued at 110.62 in the July-September period of 2018, while the figure was 109.99 in the same period last year.

Among major economic activities, the productivity rose by 4.60 percent in mining and quarrying sector, 2.35 percent in electricity, gas, steam and air conditioning supply, and it dropped by 0.80 percent in the manufacturing industry.

Contraction in current account deficit and production
Contraction in current account deficit and production

 

Turkish economy, Current Account Deficit, October, 2018