Turkey’s current account deficit narrowed in October from last year, data from the central bank showed on Friday.

The current account deficit decreased to $0.273 billion in October from $2.737 billion in the same period last year. In September, the current account deficit was $2.559 billion.

Economists had forecast a deficit of $0.06 billion.

The goods deficit increased by $514 million with a net outflow of $1.267 billion and services logged a net inflow of $1.576 billion compared to the same month last year.

Primary income posted a net outflow of $613 million in October, while the secondary income account recorded a net inflow of $31 million.

The capital account deficit was $1 billion in October. The financial account deficit increased to $2.852 billion in October from $1.154 billion in the previous month.

The material has been provided by InstaForex Company – www.instaforex.com


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