Türkiye’s current account posted a net surplus of $457 million in October, according to Central Bank data released on Dec. 12.
Thus, the current account has recorded a surplus for four consecutive months. In July and August, the surpluses amounted to $1.7 billion and $5.4 billion, respectively, while the current account posted a $1.1 billion surplus in September.”
Excluding gold and energy, the current account registered a significantly larger surplus of $7.03 billion in October. The goods balance recorded a deficit of $5.96 billion during the month.
On an annualized basis, the current account deficit rose to $22 billion in October, up from $20.25 billion in September. The 12-month goods deficit also widened, reaching $67.3 billion compared with $64.8 billion a month earlier.
Service revenues continued to provide strong support, with net inflows totaling $7.59 billion in October. Travel services alone generated $5.86 billion in net income.
“The annualized current account deficit was mainly financed through direct investment, with a net inflow of $5.2 billion, and portfolio investment, with a net inflow of $0.2 billion,” the bank said.
Direct investment posted a net outflow of $838 million, while portfolio investments saw a net outflow of $1.02 billion in October. Non‑residents recorded net sales of $44 million in equity securities and $98 million in government domestic debt securities.
For the January–October period, the current account deficit widened to $14.54 billion, compared with $2.93 billion in the same period last year.
