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Turkish current account deficit falls to USD1.18 in August  Join our daily free Newsletter

MENAFN - 13/10/2012

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(MENAFN) An official report showed that Turkey's current account deficit dropped to its lowest level in three years in August, largely due to higher gold exports and weaker economic growth, Reuters reported.

According to the data from the central bank, the current account deficit fell to USD1.18 billion from a revised USD4.097 billion in July.

The current account deficit fell by 33 percent to USD36.08 billion during the January-August period, compared to a year earlier.

The trade deficit, a major contributor to the current account deficit, fell by 26 percent from to USD45.2 billion in the first eight months compared to a year ago, the data showed.

 






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