The Turkish current account turns to a surplus in August

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Turkey’s current account shifted to a surplus of $528 million last August.

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Against a deficit of 4.068 billion dollars on an annual basis amid the improvement of the export sector.

This came with the withdrawal of a statement issued by the Turkish Central Bank, in which it indicated that the value of the current account deficit during the twelve months ending in August, amounted to 23.033 billion dollars.

The country’s record surplus in August is due to the improvement in the pace of cash inflow, offset by a slowdown in cash outflow.

While the corresponding period of 2020 was negatively affected by the consequences of the outbreak of the Coronavirus.

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The current account refers to the net transactions of exports and imports of goods and services.

In a poll, Turkish economists had expected the Turkish current account to record a deficit of $190 million in August.

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