Türkiye's current account sees $4B deficit in July

By Gokhan Ergocun

ISTANBUL (AA) – Türkiye's current account balance posted a deficit of $4 billion in July, up $3.7 billion on a yearly basis, according to official figures released on Monday.

The Central Bank announced that the 12-month rolling deficit totaled $36.58 billion.

Excluding gold and energy trade, the current account balance saw a surplus of $3.74 billion, increasing from $3.12 billion.

The goods item saw a net deficit of $9.3 billion, up from $6.16 billion in July 2021.

The bank added: "On the other hand, during the same period, the inflows from the services item rose to $5.8 billion, increasing by $2.27 billion. Under services, travel item recorded a net inflow of $4.09 billion, increasing by $1.58 billion compared to the same month of the previous year."

Direct investments saw net inflows of $252 million in the month.