Türkiye’s current account balance posted a deficit of $3.99 billion in November, the Central Bank announced on Jan. 13
The deficit followed surpluses recorded in the previous four months and came wider than market expectations, as an Anadolu Agency survey had forecast a deficit of $3.1 billion for November.
The current account excluding gold and energy indicated a net surplus of $2.1 billion.
The goods balance recorded a deficit of $6.38 billion in November, while the services sector posted a surplus of $3.9 billion.
Direct investments recorded a net inflow of $ 343 million in November.
Non-residents' investments in equity securities recorded net sales of $59 million, and the government domestic debt securities market recorded net purchases of $1.65 billion, respectively.
For the January-November period, the current account balance registered a cumulative deficit of $18.5 billion. Over the same period, the goods deficit amounted to $62.2 billion.
Meanwhile, the services sector posted a net surplus of $60 billion in the first 11 months of the year, helping to limit the overall current account gap.
According to annualized data, the current account deficit was $23.2 billion as of November, up from the previous month’s $21.99 billion.
“As regards the annualized figures, the current account deficit was mainly financed through direct investment with a net inflow of USD 4.8 billion and loans with a net inflow of $30.1 billion,” the bank said.
