Turkish current account gap at $4.09 billion in June

ANKARA

A Turkish flag flies on a passenger ferry in Istanbul Aug. 7. REUTERS Photo / Murad Sezer

Turkey recorded a current account deficit of $4.09 billion for June, slightly exceeding market expectations, although it still contracted by over 14.5 percent compared to the same period last year, according to figures announced by the Central Bank.

The total deficit totaled $24.1 billion for the first half of the year, marking a decrease of $12.9 billion compared to the first half of the previous year, according to a statement released by the Bank on Aug. 14.
Analysts were expecting the deficit to be around $3.8 billion for the month.

“The decrease in the current account deficit is mainly attributable to the $11.2 billion decrease in the foreign trade deficit, which was recorded at $29.3 billion; the $883 million increase in the services surplus, which was recorded at $9.2 billion; and the $956 million decrease in net income outflows, which was recorded at $4.5 billion,” according to the Central Bank.