Turkey Current Account Deficit Narrows In July

Turkey's current account deficit narrowed in July, data from the central bank showed on Monday.

The current account deficit decreased to $683 million in July from $1.122 billion in June. Economists had forecast a deficit of $0.57 billion.

The goods trade deficit increased to $2.984 billion in July, while the services surplus rose to $2.948 billion.

Gold and energy excluded current account indicated $2.749 billion surplus, which was observed as $1.924 billion surplus in the same month of the previous year.

Under services, travel item recorded a net inflow of $2.118 billion in July.

The primary income account posted a net outflow of $702 million in July, while the secondary income account surplus was $55.00 million.

The capital account deficit was $19.0 million in July. The financial account registered a deficit of $4.884 billion.

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