Istanbul, Oct 14 () – Turkey’s current account balance recorded a "deficit" in August, despite expectations for "surplus".
According to data released by the Central Bank, the current account deficit recorded 163 million dollars in August, indicating a decline of 2.06 billion dollars, against in the same month of last year, bringing the bi-annual rolling deficit to 43.05 billion dollars. Banks economists were expecting a surplus of 50 million dollars.
The decrease in current account balance of more than 2 billion dollars stemmed from the unexpected fall in foreign trade deficit by 2.6 billion dollars, against the same month of last year.
Outflow of 1.48 billion dollars in portfolio investments
With respect to the fall in tourism receipts, net income declined by 583 million dollars to 3.95 billion dollars.
According to Central Bank data, Portfolio investment saw a net outflow of 1.48 billion dollars.
With regards to subitems through liabilities, equity security transactions and government domestic debt securities of non-residents saw net sales of 347 million and 393 million dollars, respectively.
Also, regarding the bond issues in international capital markets, banks recorded a repayment of 307 million dollars on net basis.