Turkey recorded a current account deficit of US$992 million in March, reversing from a surplus of US$9 million in February, the country's Central Bank said. Economists expected the deficit to come in at US$1.3 billion. A year earlier, in March, the current account deficit stood at US$4.28 million.
In March, the deficit in the goods, services and income accounts widened to US$1.13 billion from a US$95 million deficit in February. At the same time, the current transfers account showed a surplus of US$134 million in March, larger than the surplus of US$104 million in February.
Meanwhile, the capital and financial account showed a deficit of US$1.08 billion in March, down from a US$2.02 billion deficit in the preceding month.
In the January to March period, the current account deficit narrowed to US$1.15 billion from a deficit of US$12.3 billion in the corresponding period of last year.
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