RTTNews - Turkey recorded a current account deficit of US$1.23 billion in April, higher than a deficit of US$1.03 billion in March, the country's Central Bank said Wednesday. Economists expected the deficit to come in at US$1.3 billion.
During the month, the goods and services account deficit widened to US$739 million from US$659 million, mainly due to an increase in the goods account deficit. The income account deficit increased to US$604 million from US$513 million in the preceding month. At the same time, the surplus in the current transfers account decreased to US$104 million from US$138 million in March.
Meanwhile, the capital and financial account showed a surplus of US$1.38 billion in April, reversing from a deficit of US$1.19 billion in the preceding month.
In the four months ended April, the current account deficit narrowed to US$2.65 billion from US$17.47 billion in the corresponding period of the previous year.
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