The Central Bank of the Republic of Turkey revealed current account balance data for January 2019, posting the lowest deficit of the last 9 years.
- The country’s annual current account deficit fell to USD 21.6 billion, recording a 9-year-low.
- The current account deficit fell USD 6 billion 221 million to post USD 813 million, a significant improvement from the first month of the previous year. Resultantly, the deficit has recorded its lowest numbers in 105 months, as the 12-month rolling gap fell to USD 21 billion 592 million.
- According to the numbers as announced by the Ministry of Trade, Turkey’s February exports and imports amounted to USD 13.6 and 15.8 billion respectively. Thus, the foreign trade deficit shrank to USD 2.2 billion. A significant yearly improvement is anticipated.
- The trade gap in gold fell USD 1.3 billion, improving from 2017 to record a deficit of USD 8.7 billion.