Central Bank announces: Current account deficit recorded in January

According to the statement made by the Central Bank of the Republic of Türkiye (TCMB), the current account excluding gold and energy recorded a surplus of 3,595 million dollars. The annualized current account deficit stood at 37.52 billion dollars.

The following information was provided in the statement:

"The foreign trade deficit defined by the balance of payments was 4,448 million dollars.

Net inflows from the services balance were at the level of 2,792 million dollars. Under this item, net revenues from travel were 2,195 million dollars.

The primary income balance and secondary income balance items recorded net outflows of 856 million dollars and 44 million dollars, respectively.

Net inflows from direct investments were recorded at 661 million dollars.

Portfolio investments recorded net inflows of 1,086 million dollars. When examined by sub-items, it is observed that non-residents made net purchases of 186 million dollars in the stock market and 264 million dollars in the government domestic debt securities market.

Regarding bond issuances abroad; banks realized net borrowing of 1,422 million dollars, while other sectors realized net repayments of 25 million dollars.

Under other investments, the effective and deposit assets of domestic banks with foreign correspondents recorded a net increase of 4,063 million dollars.

Deposits of foreign banks in Türkiye recorded a total net increase of 1,702 million dollars, consisting of a 3 million dollar net increase in foreign currency and a 1,699 million dollar net increase in Turkish lira.

Regarding loans obtained from abroad, banks and the General Government realized net utilization of 912 million dollars and 17 million dollars, respectively, while other sectors realized net repayments of 890 million dollars.

There was a net decrease of 6,207 million dollars in official reserves this month"

News Source: 12punto