Türkiye posts 3.67-bln-USD current account deficit in Nov.

ANKARA, Jan. 11– Türkiye recorded a current account deficit of 3.67 billion U.S. dollars in November last year, according to the data released by the Turkish central bank on Wednesday. Türkiye’s 12- month rolling deficit, ending in November last year, amounted to about 45 billion dollars, the highest level since August 2018, the data showed. Services recorded a net…

ANKARA, Jan. 11 (Xinhua) — Türkiye recorded a current account deficit of 3.67 billion U.S. dollars in November last year, according to the data released by the Turkish central bank on Wednesday.

Türkiye’s 12-month rolling deficit, ending in November last year, amounted to about 45 billion dollars, the highest level since August 2018, the data showed.

The country posts a deficit for the 13th month in a row, primarily as a result of rising energy prices.

The current account deficit reached 41.8 billion dollars in the January-November period in 2022. In the same period, the current account, excluding gold and energy, posted a surplus of 48.3 billion dollars.

The foreign trade deficit in November last year, defined in the balance of payments, amounted to 7.1 billion dollars.

Services recorded a net surplus of 3.6 billion dollars, while the travel item under services posted a net inflow of 2.65 billion dollars.

The Turkish government practises an economic model that pursues a current account surplus through higher exports and low-interest rates, despite rising inflation and a depreciation in the local currency. Enditem

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