Turkey Current Account Deficit Narrows Slightly

(RTTNews) - Turkey's current account deficit decreased marginally in March from a year ago, according to data published by the Central Bank of the Republic of Turkey on Tuesday.

The current account shortfall dropped to $4.087 billion from $4.123 billion in the corresponding month last year.

The current account, excluding gold and energy, indicated a net surplus of $1.47 billion in March.

The deficit on trade in goods totalled $4.84 billion, down from the $5.04 billion shortfall a month ago, as exports grew faster than imports. Meanwhile, the surplus on services trade shrank to $2.67 billion from $2.74 billion.

Primary income showed a shortfall of $1.9 billion, widened from the previous year's $1.63 billion deficit. At the same time, the secondary income showed a shortfall of $19.0 million versus a $206 million deficit last year.

According to annualized data, the current account deficit was recorded as $12.6 billion in March, while the goods deficit was recorded as $58.1 billion