Türkiye's current account balance posted a surplus for a third month in a row in September, official data showed on Wednesday, in line with market expectations for another excess following the highest monthly surplus on record in August.
The balance registered a surplus of $1.1 billion in September, the data from the Central Bank of the Republic of Türkiye (CBRT) revealed.
This followed surpluses of $5.45 billion in August and $1.77 billion in July. Anadolu Agency (AA) survey had expected a surplus of nearly $1.5 billion for the month of September.
The current account excluding gold and energy indicated a net surplus of $6.8 billion, while goods recorded a deficit of $5.4 billion, the bank said.
In September, net inflows from services totaled $7.7 billion, with transportation and travel services generating net revenues of $2.3 billion and $6.3 billion, respectively.
According to annualized data, the current account deficit reached $20.1 billion as of September, and the goods deficit came in at $64.8 billion, the CBRT also said. In the same period, services recorded a net surplus of $62.6 billion.
In a report, Dutch banking giant ING said that surplus was "broadly in line with the market forecast." However, it suggested that a closer look at the monthly figures shows that the surplus narrowed compared to the same month last year, citing primarily the higher trade gap.
"In September, the annual current account deficit was realized at $20.1 billion. We expect the ratio of the annual deficit to national income to remain flat at 1.3% in the third quarter," Treasury and Finance Minister Mehmet Şimşek said in a post on X.
"The positive outlook for access to external financing continued in the third quarter as well," he added.
"The external debt rollover ratios of the real sector and banks were realized at 167% and 235%, respectively, during the January-September period. Direct investments that improve financing quality, increase production capacity, and employment, reached the highest level of the last ten years at $11.4 billion as of the first nine months of the year," he further suggested.
"Net direct investment inflow increased modestly compared to the same period last year, reaching $4.3 billion."
"With our policies that reduce external dependence in energy, and increase the value added and competitiveness in exports and services trade, we will strengthen the foundations of a sustainable current account balance," he concluded.
