Turkey's current account deficit enlarged to $3.99 billion in May, increasing $342 million from the same month the previous year, according to data released by the Central Bank of the Republic of Turkey (CBRT) on Friday.

According to the CBRT, from January to May the current account deficit declined 9 percent to $18.55 billion compared to the same time last year while the 12-month rolling deficit reached $44.69 billion from $44.34 billion.

Exports decreased 18.8 percent to $11.11 billion and imports decreased by 14.4 percent to $17.86 billion in May 2015 when compared with the same month the previous year. In May, direct investment rose $573 million to $638 million from the previous year.

The central bank attributed the increase of the current account deficit in May to a $272 million decrease in the services surplus, which fell to $2,138 billion.