12-month current account surplus was 6 billion 128 million dollars

Balance of payments data for the February 2020 period was announced by the Central Bank of the Republic of Turkey (CBRT).

Accordingly, the current account, which had a deficit of 117 million dollars in February last year, had a deficit of 1 billion 230 million dollars in the same month of this year. The 12-month current account gave a surplus of 6 billion 128 million dollars.

This development was influenced by the increase in the foreign trade deficit in the balance of payments table, increasing by 1 billion 172 million dollars to 1 billion 901 million dollars, compared to the same month of 2019, and the increase in the primary income balance deficit, by 222 million dollars, to 729 million dollars.

The current account, excluding gold and energy, had a surplus of 3 billion 225 million dollars in February last year, and a surplus of 2 billion 567 million dollars in February 2020.

Net inflows from the services balance increased by 315 million dollars compared to the same month of 2019 and reached 1 billion 492 million dollars. Net revenues from the travel item under the services balance increased by 41 million dollars in the same period, reaching 855 million dollars.

Under the primary income balance item, net outflows from the investment income item increased by 208 million dollars compared to February 2019, reaching 614 million dollars. Net outflows from the secondary income balance item increased by 34 million dollars in the same period, reaching 92 million dollars.

Net inflows from direct investments decreased by 129 million dollars in February compared to the same month of the previous year, reaching 309 million dollars.

During the same period, portfolio investments recorded a net inflow of 382 million dollars. When examined by sub-items, it was seen that non-residents made net sales of 687 million dollars in the stock market and 1 billion 802 million dollars in the government domestic debt securities market.

Regarding bond issues abroad, in February, banks made a net repayment of 497 million dollars and other sectors made a net repayment of 42 million dollars, while the general government made a net borrowing of 4 billion dollars. Under other investments, the effective and deposit assets of domestic banks in their foreign correspondents recorded a net decrease of 3 billion 233 million dollars, while the domestic deposits of foreign banks recorded a net increase of 986 million dollars.

Regarding the loans provided from abroad, in February, banks and other sectors made net repayments of 298 million dollars and 373 million dollars, respectively, and the general government made a net use of 38 million dollars.

A net increase of 3 billion dollars was observed in official reserves in February.

Source: https://www.aa.com.tr/tr/ekonomi/12-aylik-cari-fazla-6-milyar-128-milyon-dolar-oldu/1802480

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