According to data announced by the Central Bank of the Republic of Turkey, the current account had a deficit of 1 billion 235 million dollars in May 2024.
Detailed Data
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- Balance of Payments:The foreign trade deficit defined in May was recorded as 4 billion 199 million dollars.
- Balance of Services:During this period, net inflows from the services balance were 4 billion 724 million dollars.
- TravelPen:Net revenues from the travel item amounted to 3 billion 915 million dollars.
- Primary Income Balance:A net outflow of 1 billion 607 million dollars was recorded.
- Secondary Income Balance:There was a net outflow of 153 million dollars in the secondary income balance item.
Annualized Current Account Deficit and Rate
While the annualized current account deficit decreased to 25 billion 191 million dollars in May, the improvement in the last year was recorded as 31 billion 831 million dollars. The ratio of the current account deficit to national income decreased to approximately 2.25 percent when the end-2023 national income is taken into account.
