Macro Indicators

6/12/2017

The Current Account Deficit Realized as $ 3.6 Billion in April

The current account deficit realized as $ 3 billion 615 million in April decreasing by $ 542 million compared to the same month last year

Central Bank of the Turkish Republic disclosed the balance of payments for the month of April 2017.

The current account deficit realized as $ 3 billion 615 million in April decreasing by $ 542 million compared to the same month last year. The 12-month current account deficit has accordingly realized as $ 33 billion 227 million.

It is determined that the current account deficit fell in comparison with the same month of the previous year in the balance of payments and that revenues in the services sector increased upon an increase in net revenues in the travel sub-sector.

Foreign trade deficit decreased by $ 563 million in comparison with the same month of the previous year realizing at a level of $ 3 billion 533 million. It is being stated that the fall in oil prices had a positive effect on the decrease in costs of imports.

On the other hand, net revenues resulting from the balance of payments in the services sector realized as $ 1 billion 112 million increasing by $ 346 million. Net revenues resulting from the travel sub-sector under the heading of the balance of payments in the services sector reached $ 888 million increasing by $ 199 million compared to the same month last year. It is being stated that a slight increase in tourism revenues had a positive effect upon a recovery in the tourism sector.