Turkey’s current account deficit narrowed in April, data from the central bank revealed on Monday.
The current account deficit fell to 1.71 billion dollars, from 3.42 billion dollars in the previous month. In the same period last year, the shortfall was 5.29 billion dollars.
The latest deficit was the lowest since October.
The annual decline was mainly driven by a sharp decline in the goods deficit, to 1.51 billion dollars, and an increase in net inflow in services item, to 811 million dollars.
Gold and energy excluded current account indicated a 942-million-dollar surplus, which was observed as 3,548-million-dollar deficit in the same month of the previous year.
Under services, travel item recorded a net inflow of 596 million dollars in April. Primary income outflow increased by 110 million dollars on net basis compared to the same month of the previous year, realizing 1.258 billion dollars.
Secondary income recorded a net inflow of 248 million dollars, increasing by 212 million dollars compared to the same month of the previous year.