World Bulletin / News Desk
The country's 12-month rolling deficit reached $57.6 billion in May, according to the Central Bank of the Republic of Turkey (CBRT) report on balance of payments.
The goods deficit rose by $678 million to $6.498 billion while primary income gap increased by $214 million to $1.156 billion in the month.
"Services item recorded net inflow of $1,907 million, increasing by $768 million compared to the same month of the previous year, mainly stemming from a $549 million net increase in travel revenues observing as $1,697 million in May 2018," it said.
Meanwhile, the country's current account gap in the first five months of this year amounted to $27.7 billion, rising from $10.2 billion compared to the same period last year.
On Monday, Anadolu Agency Finance Desk’s survey of 14 experts predicted the current account deficit at $5.5 billion in May. Economists also forecast the year-end current deficit average at $53.6 billion.
Turkey's annual current account deficit in 2017 was around $47.3 billion, compared to the previous year's figure of $33.1 billion.
According to official figures, the country's highest annual current account deficit in the last 20 years was in 2011 with $74.4 billion.
US uranium production dropped from 49 percent in 1987 to 5 percent today
Chileshe Kapwepwe from Zambia becomes first woman to head trade bloc
Last month, inflation among EA19 countries rose to 2 percent, up 1.3 percent from same month last year, says Eurostat
BIST 100 climbs 0.10 pct, while Turkish lira gains value against foreign currencies
Nearly 8.5 million new passenger cars were registered in EU in first half of 2018, says manufacturers' association
Economic partnership agreement is biggest ever negotiated by EU and will create an open trade zone
BIST 100 rises 0.08 pct; US dollar/Turkish lira exchange rate stands at 4.8420
The dollar was up versus the yen but down against the euro and pound, with all eyes on US President Donald Trump's summit with Russian counterpart Vladimir Putin in Helsinki.
Tax revenues totals nearly $72.1 billion while interest payments amounts to over $8.2 billion in January-June period
BIST 100 rises over 700 points; USD/TRY exchange rate stays at 4.8360
Country's egg, chicken, turkey, and meat production climbed in May on yearly basis, says official data
BIST 100 rises over 400 points, while USD/TRY exchange rate drops to 4.8460
Saudi Arabia intends to invest as much as $10 billion in South Africa’s economy, with a focus on energy projects
Share of young people in Turkey age 15-24 who are not in employment, education, or training down 4.5 pct in Q1 year-on-year
Treasury and Finance Minister Berat Albayrak says effective Central Bank is among main policy targets of new era
The European Commission, the EU's executive arm, said the 19-country single currency bloc would expand by 2.1 percent in 2018, lower than the 2.3 percent forecast just weeks ago in early May.