”A 12-month current account deficit of $60 billion…”

SHAFAQNA TURKEY. The current account deficit in April was $5.4 billion. Thus, the current account deficit for 12 months increased to $57.8 billion.

The Central Bank published balance of payments statistics for April. The current account, excluding gold and energy, had a deficit of $480 million in April, according to the data. The current account deficit, which stood at $4.9 billion in March, widened to $5.4 billion in April. The annual current account deficit widened from $54.9 billion to $57.8 billion.

The foreign trade deficit determined in the balance of payments in April amounted to $7 billion 16 million. Revenues from the balance of services are at $2.9 billion, and net income from tourism is at $2.1 billion.

$6.6 billion from a net error free

On the other hand, a net error and omission item recorded an outflow of $3.684 billion in April. In the period from January to April 2022, an inflow of $8.2 billion was recorded, and for the same period of the current year, an outflow of $6 billion 694 million was realized.

The balance of primary income and the balance of secondary income recorded a net outflow of $1 billion 292 million and $11 million, respectively.

Net inflow of direct investments amounted to USD 784 million. Portfolio investments amounted to 1 billion 204 million dollars. When analyzed by sub-item, it is clear that non-residents made a net sale in the stock market and the government domestic debt securities market in the amount of $37 million and $6 million, respectively.

Reserves decreased by $8.1 billion.

As for other investments, effective and deposit assets of domestic banks in their foreign correspondents decreased by USD 7 million. Domestic deposits of foreign banks recorded a net increase of $142 million, a net increase of $302 million in foreign currencies and a net decrease of $160 million in Turkish Lira.

Official reserves this month decreased by 8 billion 163 million dollars.