Turkey's current account gap narrows in March

ISTANBUL- Anadolu Agency

Turkey's current account deficit has dropped to $589 million in March, decreasing by $4.14 billion compared to the same month in 2018, the Central Bank of Turkey (CBRT) said on May 13.       

The figure was nearly $4.73 billion in March 2018, according to the Central Bank's data.     

The bank said the 12-month rolling deficit reached $12.83 billion in March.     

"This development in the current account is mainly attributable to a $3.7-billion decrease in the goods deficit recording net outflow of $916 million," the bank said in its report.     

The CBRT also said Turkey's current account deficit- excluding gold and energy-posted a $3.5-billion surplus in March 2019, versus a $573-million deficit in the same month last year.