Current account balance posted a deficit of USD 2.56 billion dollars in January. Economists predicted that the current account would post a deficit of USD 2.46 billion in January. According to the data released by Turkish Central Bank, the current account deficit, which was 10.4 billion dollars in January 2023, continued to improve. On an annualized basis, the current account deficit was USD 37.52 billion.
In January, current account recorded net deficit of USD 2.56 billion. Gold and energy excluded current account indicated net surplus of USD 3.59 billion.
Goods deficit recorded USD 4.45 billion.
Services recorded a net surplus of USD 2.79 billion. Under services, travel item recorded a net inflow of USD 2.19 billion.
Primary income and secondary income recorded a net outflow of USD 856 million and USD 44 million, respectively.
Direct investment recorded net inflow of USD 661 million.
Portfolio investment recorded a net inflow of USD 1.09 billion. As regards to sub-items of liabilities, non-residents’ transactions on equity securities and government domestic debt securities recorded net purchases USD 186 million and USD 264 million, respectively.
Regarding the bond issues in international capital markets; other sectors realized net repayments of USD 25 million, whereas banks realized net borrowing of USD 1.42 billion.
Under other investment, Turkish banks’ currency and deposits within their foreign correspondent bank accounts increased by USD 4.06 billion.
Non-resident banks’ deposit accounts held within domestic banks increased by USD 1.7 billion, with an increase of USD 3 million in foreign currency and USD 1.7 billion in Turkish lira accounts.
Regarding the loans provided from abroad; banks and General Government realized net borrowing of USD 912 million and USD 17 million, respectively, while other sectors realized net repayments of USD 890 million.
Official reserves decreased by USD 6.2 billion.
