Turkey's current account deficit drops in September

Decline attributed to drop in foreign trade deficit and net increase in services sector revenues.

Turkey's current account deficit drops in September

Turkey’s current account deficit in September declined to US$2.22 billion - a significantly lower figure than experts forecast, according to official data released on Thursday.

The deficit, which was forecast to stand at $2.6 billion in an Anadolu Agency poll earlier this year, dropped to US$2.22 billion – US$0.38 billion lower than estimates, Turkey's Central Bank report stated.

The figure is also much lower than the current account deficit recorded in August, which was US$2.77 billion.

Turkey’s total current account deficit in the January-September period declined by US$18.3 billion to reach US$30.9 billion according to the bank’s figures.

This decline has been attributed to a drop in the foreign trade deficit in same period and a net increase in services sector revenues.

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Last Mod: 13 Kasım 2014, 11:35
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