Turkey#039;s Current Account Deficit Rises to $3.2bn in February
Turkey's current account deficit stood at 3.2 billion dollars in February, exceeding the market expectations at 2.75 billion dollars, according to the Central Bank data released on Friday.

Dollar rose to 2.6267 lira, after the data was released, from 2.6195 it was before the data.

The 12-month rolling deficit decreased to 42.82 billion dollars from the deficit of 42.97 billion dollars in the same month of 2014.

The decrease in the current account deficit is mainly attributable to 346 million dollars decrease in foreign trade deficit recording 3.14 billion dollars and 38 million dollars increase in services surplus reaching to 724 million dollars.

Contrary to this, the improvement in the current account deficit was partially offset by 238 million dollars increase in primary income deficit reaching to 853 million dollars.

Under non monetary gold item, net gold export recorded 1.5 billion dollars increasing by 932 million dollars compared to the same month of the previous year.

Under services item, transportation recorded a net inflow of 214 million dollars increasing by 44 million dollars, while the travel item recorded a net inflow of 769 million dollars increasing by 16 million dollars compared to the second month of the previous year.

Direct investment item under primary income involving distributed profits recorded a net outflow of 358 million dollars increasing by 221 million dollars over the same month of the previous year.

Official reserves recorded a net decrease of 1.1 billion dollars in February 2015, in contrary to the net increase of 1.6 billion dollars observed in the same month of 2014.


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