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Unidentified cash inflow exceeds 13 billion dollars in 9 months

Istanbul, Nov 11 () – The unidentified cash inflow in currency to Turkey exceeded 13 billion dollars in the first nine months of the year, having risen by 52 percent against in thes same period of last year. According to Central Bank data, “net...

Unidentified cash inflow exceeds 13 billion dollars in 9 months

Istanbul, Nov 11 () – The unidentified cash inflow in currency to Turkey exceeded 13 billion dollars in the first nine months of the year, having risen by 52 percent against in thes same period of last year. According to Central Bank data, “net...

11 Kasım 2015 Çarşamba 13:08
Unidentified cash inflow exceeds 13 billion dollars in 9 months
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Istanbul, Nov 11 () – The unidentified cash inflow in currency to Turkey exceeded 13 billion dollars in the first nine months of the year, having risen by 52 percent against in thes same period of last year.

According to Central Bank data, “net errors and omissions” component of balance of payments data, known as the "unidentified cash inflow" rose to 1.98 billion dollars in Sept.

Following this increase, the overall unidentified cash inflow in the first nine months rose by 52 percent to 13.44 billion dollars, up from 8.87 billion dollars in the same period of 2014.

The current account indicated a surplus of 95 million dollars in September, as the second surplus in this year, with a surplus of 27 million dollars in Aug., when unidentified cash inflow was at 1.17 billion dollars.

Meanwhile, the 12-month rolling deficit, known as the “weak spot” of Turkey’s economy, recorded 40.57 billion dollars.

This development in the current account is mainly attributable to 2.54 billion dollars decrease in the deficit in goods item to 2.53 billion dollars, while nonmonetary gold item recorded a net export of 520 million dollars, in contrast to net import of 648 million dollars observed in the same month of the previous year.

 

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