During the period January-June, the current account deficit decreased by 35.9% compared to the same period of the previous year and amounted to 13 billion 601 million dollars.
The Central Bank of the Republic of Turkey (CBRT) announced the evolution of the balance of payments for June 2021. Thus, the current account deficit decreased by 1 billion 947 million dollars compared to the month of June of the previous year and amounted to $ 1.17 billion.
As a result, the year-over-year current account deficit grew to $ 29 billion 679 million. In this development, the balance of services item, which showed a deficit of $ 346 million in June of the previous year, had a net surplus of $ 1,511 million in the same month of that year, and the foreign trade deficit defined in the balance of payments decreased from 462 million dollars to 1 billion 599 million dollars.
During the period January-June, the current account deficit decreased by 35.9% compared to the same period of the previous year and amounted to 13 billion 601 million dollars. The current account balance had a deficit of $ 21 billion 226 million during the January-June period of last year.
The current account, excluding gold and energy, posted a surplus of $ 40 million in June of the previous year, compared to a surplus of $ 1 billion 995 million this month.
Net income from the travel service balance was $ 1,026 million.
Net outflows from the primary income balance increased by $ 418 million compared to the same month a year earlier and amounted to $ 1.21 billion.
Net outflows from the secondary income balance item decreased $ 46 million from the same month a year earlier and amounted to $ 18 million.
Net direct investment inflows amounted to $ 796 million. Portfolio investments recorded a net inflow of $ 2.823 billion. Analyzing by sub-headings, it was found that non-residents made a net purchase of $ 28 million in the stock market and $ 237 million in the domestic market for government debt securities.
Regarding bond issuance abroad, banks, government and other sectors made net use of $ 620 million, $ 1.5 billion and $ 790 million, respectively.
Under other investments, the actual and deposit assets of domestic banks with their foreign correspondents decreased by $ 1.253 million.
Domestic deposits of foreign banks saw a net decrease of $ 125 million in total, with an increase of $ 214 million in foreign currency and a net decrease of $ 339 million in Turkish Lira.
Regarding loans obtained from abroad; banks and other sectors made net repayments of $ 400 million and $ 393 million, respectively, and government net use of $ 84 million. A net increase of $ 8 billion 840 million was seen in official reserves this month.
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