Turkey Current Account Surplus Shrinks In October

(RTTNews) - Turkey's current account surplus decreased at the start of the final quarter, data published by the Central Bank of the Republic of Turkey on Thursday.

The current account surplus decreased to $1.88 billion from $3.01 billion in September.

The deficit on trade in goods totaled $3.54 billion, up from the $3.12 billion shortfall a month ago, as imports grew faster than exports.

The surplus on services trade shrank to $6.45 billion from $7.37 billion in September. Under services, travel items recorded a net inflow of $5.1 billion.

Primary income showed a shortfall of $1.05 billion, smaller than the prior month's $1.22 billion deficit. At the same time, the secondary income turned into a surplus of $20 million after posting a deficit of $17 million.

The capital account deficit widened to $7 million from $6 million in the preceding period. The financial account shortfall came in at $1.69 billion, compared to $1.09 billion in September, data showed.