2020.07.1311:32:00UTC+00Turkey Current Account Balance Swing To Deficit

Turkey's current account balance swung to deficit in May from last year, data from the central bank showed on Monday.

The current account registered a deficit of $3.76 billion in May versus a surplus of $1.07 billion in the same period last year. In April, the current account deficit was $5.09 billion.

The goods deficit increased by $2.38 billion with a net outflow of $2.73 billion and services logged a net outflow of $33 million versus an inflow of $2.91 billion in the same month last year.

Investment income under primary income item posted a net outflow of $920 million in May, and the secondary income account recorded a net outflow of $28 million.

The capital account deficit was $4 billion in May. At the same time, the financial account deficit was $7.31 billion versus a surplus of $2.61 billion in the previous month.