Türkiye’s current account deficit widened to $9.67 billion in March, marking its highest monthly level in three years, Central Bank data showed.
The figure was in line with economists’ expectations and followed a $7.5 billion deficit in February.
The 12-month current account deficit rose to $39.7 billion in March from $35 billion a month earlier, reaching its highest level in two years.
Excluding gold and energy, the current account posted a deficit of $3.89 billion, while the balance of payments-defined foreign trade deficit stood at $9.51 billion.
Net inflows from services amounted to $2.59 billion in March. Transport services generated $1.63 billion in net income, while travel brought in $2.25 billion.
On an annualized basis, direct investments contributed $2.1 billion to financing the current account deficit, while loans and trade credits contributed $38.6 billion and $3 billion, respectively.
Portfolio investments had a negative impact of $3.3 billion, while cash and deposits weighed by $19.7 billion. The Central Bank’s net reserves declined by $52.5 billion.
Net errors and omissions recorded an outflow of $7 billion in March, bringing the 12-month outflow in the item to $33.3 billion.
