Daily Sabah logo

Politics
Diplomacy Legislation War On Terror EU Affairs Elections News Analysis
TÜRKİYE
Istanbul Education Investigations Minorities Expat Corner Diaspora
World
Mid-East Europe Americas Asia Pacific Africa Syrian Crisis Islamophobia
Business
Automotive Economy Energy Finance Tourism Tech Defense Transportation News Analysis
Lifestyle
Health Environment Travel Food Fashion Science Religion History Feature Expat Corner
Arts
Cinema Music Events Portrait Reviews Performing Arts
Sports
Football Basketball Motorsports Tennis
Opinion
Columns Op-Ed Reader's Corner Editorial
PHOTO GALLERY
JOBS ABOUT US RSS PRIVACY CONTACT US
© Turkuvaz Haberleşme ve Yayıncılık 2023

Daily Sabah logo

عربي
  • Politics
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • Elections
    • News Analysis
  • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Expat Corner
    • Diaspora
  • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • Islamophobia
  • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
  • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
  • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Reviews
    • Performing Arts
  • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
  • Gallery
  • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
  • TV

Turkey's current account deficit down in June

by Daily Sabah with AA

ISTANBUL Aug 12, 2017 - 12:00 am GMT+3
by Daily Sabah with AA Aug 12, 2017 12:00 am

Turkey's annual current account deficit narrowed to $3.7 billion in June, a fall of $1.2 billion year-on-year, the central bank said Friday.

The June deficit was expected to be around $4.1 billion. Considering June's deficit data, the 12-month rolling deficit stands at $34.3 billion, the bank said. According to the bank, the deficit in the first half of the year was $20.77 billion.

The import-export balance of goods was reduced by $670 million in Turkey's favor to $4.57 billion, while the country's income from services rose $491 million to $1.68 billion.

Economists estimate the current account deficit for the end of 2017 to be around $38.5 billion.

Indicating that the balance-of-payments deficit was lower than expected, Kutay Gözgör, the assistant director of the Economics Desk at Nişantaşı University, said that the positive contribution of net exports to growth figures will continue and the increase in official reserves was positive.

"When we look at the details of the export, we see that export figures continue to be positive. The amount of exports in June was $13.88 billion. Imports, on the other hand, stood at $18.455 billion in June after reaching $20.163 billion in May. With these figures, we can see that net exports continue to contribute to second quarter growth figures. When we look at the current picture, the contribution of net exports to growth may approach around two points. At the same time, the increase in reserves continues. The reserve increase was $2.97 billion in June. The increase in tourism revenues and official reserves, and the contribution of net exports to growth are positive developments," Gözgör said.

  • shortlink copied
  • RELATED TOPICS
    fight-against-terrorism DEUTSCHE-BANK US-LIBYA-RELATIONS
    KEYWORDS
    business
    The Daily Sabah Newsletter
    Keep up to date with what’s happening in Turkey, it’s region and the world.
    You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
    No Image
    Photos of Ankara's iconic structures reflected on crystal spheres
    PHOTOGALLERY
    • POLITICS
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • News Analysis
    • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Diaspora
    • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • İslamophobia
    • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
    • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
    • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Performing Arts
    • Reviews
    • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
    • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
    • Photo gallery
    • Jobs
    • privacy
    • about us
    • contact us
    • RSS
    © Turkuvaz Haberleşme ve Yayıncılık 2021