Turkey's current account deficit for June is expected to stand at $3.89 billion (TL 8.47 billion), slightly lower than June of last year, according to a group of leading economists.
A panel of 14 experts, surveyed by the Anadolu Agency (AA), forecast that the June 2013 deficit of $4.4 billion would have fallen to $3.89 billion this year.
Based on their average predictions, the year-end current account deficit is forecast to shrink to $47.9 billion. The Central Bank of the Republic of Turkey (CBRT) will release the official figures on Aug. 14.
Meanwhile, Turkey's foreign trade deficit fell for the sixth month in a row, figures from Turkey's statistics authority, TurkStat, show. June's deficit dropped to $7.8 billion from $8.6 billion in the same month last year.
The downward trend began in January and gained momentum after the CBRT introduced interest rate rises in response to the U.S. dollar's rise against the Turkish lira in mid-January.
Turkey's exports increased by 7.3 percent to $80 billion in the first half of 2014 while imports were at $105 billion in the first five months of the year, according to TurkStat.
Exports were $12.54 billion in July and remained flat compared to the same month last year as political fallout and the Iraq conflict took their toll on the country's trading partners, the Turkish Exporters' Assembly said.
The 2013 figure for the deficit was $65 billion, which is 34 percent higher than 2012's $48.5 billion.
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