World Bulletin / News Desk

Turkey's current account deficit was down to 5.6 billion USD in January 2013 when compared to January 2012. Central Bank stated on Tuesday the current account deficit was posted as 5.6 billion USD in January 2013, indicating a decrease of 99 million USD over January 2012.

This development is mainly attributable to 7 million USD decrease in foreign trade deficit to 5.8 billion USD as well as 83 million USD rise in net services income to 752 million USD.

Under services account, tourism revenues increased 122 million USD to 1.07 billion USD, while travel expenditures increased 43 million USD to 282 million USD in January 2013 when compared to January 2012.

Meanwhile, direct investments, portfolio investments and other investment consisting of the interest income and expenditures recorded a net outflow of 559 million USD, increasing 2 million USD.

Central Bank also announced that current account deficit for 2012 decreased to 46.9 billion USD from 48.9 billion USD.