Türkiye's current account sees $3.1B deficit in August

By Gokhan Ergocun

ISTANBUL (AA) - Türkiye's current account balance posted a deficit of $3.1 billion in August, against a surplus of $1 billion in the same month last year, according to official figures released on Monday.

The country's 12-month rolling deficit totaled $40.9 billion, announced the Central Bank of the Republic of Türkiye (CBRT).

August's data was due to the good's deficit rising to $9.7 billion, up $6.8 billion compared to the same month of the previous year, the CBRT said.

Excluding gold and energy trade, the current account balance saw a surplus of $6.3 billion, increasing from $4.9 billion.

The services sector posted a net surplus of $7.24 billion, up from $2.5 billion, while the travel item, under services, recorded net inflows of $5.1 billion in the month, increasing from $1.4 billion.

Direct investments saw net inflows of $573 million.