TURKEY'S CURRENT ACCOUNT SEES $2.8B GAP IN DECEMBER

Turkey's current account balance posted a deficit of $2.8 billion in December 2019, the Turkish Central Bank announced Friday.

Official data showed that the current account deficit recorded $2,798 million indicating an increase of $1,731 million compared to December of 2018, bringing the 12-month rolling surplus to $1,674 million.
 
This development in the current account is mainly attributable to $2,089 million increase in the goods deficit recording net outflow of $3,402 million, as well as USD 93 million increase in primary income deficit to $1,087 million.

Gold and energy excluded current account surplus recorded USD 1,454 million indicating a decrease of USD 1,429 million compared to December of 2018. Travel item under services recorded a net inflow of $1,112 million, increasing by $214 million compared to December of 2018.
 
Investment income under primary income item indicated a net outflow of USD 955 million increasing by $75 million in comparison to December of 2018.

Secondary income recorded net inflow of $ 291 million increasing by $165 million in comparison to December of 2018.