ANKARA
The current account deficit of Turkey has become $60.8 billion on annual basis while it was $3.9 billion in November 2013.
Central Bank (CB) of Turkey released on Tuesday the current account deficit of January-November period of 2013.
The current account deficit recorded $55.9 billion in January-November indicating an increase of $12.3 billion, while the current account deficit excluding non-monetary gold decreased by $3.5 million over the same period of the previous year decreasing to $45.5 billion.
The increase in the current account deficit is due to the increase in the foreign trade and income deficits despite the net rise in the services surplus mainly owing to increasing net revenues in travel and other transportation items.
The foreign trade deficit increased by $11.5 billion reaching $71.5 billion in the referring period, as the foreign trade deficit excluding non-monetary gold declined by $4.3 billion, degrading to $61.5 billion.
The travel revenues increased by $2.8 million reaching to $26.9 billion and the travel expenditures increased by $881 million recording $4.6 billion in the eleven-month period compared to the same period of the previous year.
The main sub-items under investments income, which are investments, portfolio investments and other investments consisting of the interests income and expenditures recorded a net outflow of $8.2 billion increasing by $1.7 million over the same period of the previous year.
In terms of capital and financial account, non-residents’ net direct investments in Turkey recorded $10.4 billion in the eleven-month period decreasing by $1.6 billion over the same period in 2012.
Residents’ net direct investments abroad recorded $2.6 billion decreasing by $1.1 billion over the same period of 2012.
General Government borrowed through the lease certificates from international capital markets with an amount of $1.6 billion in November 2013, increasing the net borrowing to $4.6 billion in January-November 2013.
As regards to the bond issues in international capital markets, banks borrowed $131 million, increasing the net borrowing to $7 billion in January-November 2013.
englishnews@aa.com.tr
