Turkey says March current account deficit at $4.3 bln

Turkish Central Bank released balance of payments statistics for March and the period between January and March 2010 on Tuesday.

Turkey says March current account deficit at $4.3 bln

Turkey's current account balance posted a net deficit of $4.3 billion in March 2010, increasing from net deficit of 1.1 billion U.S. dollars in March of 2009.

Turkish Central Bank released balance of payments statistics for March and the period between January and March 2010 on Tuesday.

The bank said, "this development is mainly attributable to 189.6 percent increase in foreign trade deficit, according to the balance of payments presentation, realizing as $3.5 million, as well as 59.4 percent decrease in services surplus to $188 million and 95.5 percent up in net outflows in income item to $1 million in March 2010."

"As a result, the current account posted a deficit of $9.9 billion in the first quarter of 2010 in comparison with a deficit of $1.9 billion in the same period of 2009," it said.

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Last Mod: 11 Mayıs 2010, 13:59
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