Türkiye posts $36 million current account surplus in July

ISTANBUL

Türkiye’s current account balance recorded a net surplus of $36 million in July, according to the Central Bank on Sept. 11.

Excluding gold and energy, the current account posted a $4.97 billion surplus, while the goods balance registered a $5.58 billion deficit.

On a 12-month rolling basis, the country’s current account deficit stood at $40.7 billion as of July, while the goods deficit reached $77.2 billion.

Services, meanwhile, generated a net surplus of $63.5 billion, partially offsetting deficits of $25.2 billion in primary income and $1.9 billion in secondary income.

Services remained a key contributor to the monthly balance, posting net inflows of $8.23 billion in July; Travel, under services, generated net revenue of $5.97 billion, while transportation contributed $2.89 billion.

On the financing side, portfolio investments recorded a net inflow of $5.84 billion in July.

Non-residents made net purchases of $1.97 billion in equities and investment funds and $2.37 billion in government domestic debt securities.

They also recorded net purchases of securities issued abroad by Turkish banks and the general government worth $914 million and $1.71 billion, respectively.

Direct investment posted a net inflow of $514 million during the month.

Non-resident direct investment inflows amounted to $1.15 billion, while residents’ external assets increased by $640 million.

Türkiye’s official reserves increased by $14.25 billion in July, the data also showed.