Turkey’s current account deficit narrowed in April, central bank data revealed on Monday.
The current account deficit fell to $ 1.71 billion from $ 3.42 billion the previous month. At the same time last year, the shortfall was $ 5.29 billion.
The latest deficit was the lowest since October.
The annual decline was mainly driven by a sharp decline in the goods deficit, to $ 1.51 billion, and an increase in net inflows in services, to $ 811 million.
Gold and Energy excluding the current account showed a surplus of $ 942 million, which was observed as a deficit of $ 3,548 million in the same month of the previous year.
In terms of services, the travel item recorded a net inflow of $ 596 million in April. Primary income outflows increased $ 110 million on a net basis from the same month a year earlier, reaching $ 1.258 billion.
Secondary income posted a net inflow of $ 248 million, up $ 212 million from the same month a year earlier.