Dec 11 2017

Turkey current account gap more than doubles in October

Turkey’s current account deficit more than doubled to $3.8 billion in October, bringing the rolling 12-month deficit to $41.9 billion, or about 5 percent of economic output.

The deficit increased by $2.2 billion compared to October 2016, the central bank said on its website on Monday. The gap for goods doubled to $5.6 billion, as Turks imported more than they exported.

Net errors and omissions, or unregistered inflows and outflows, registered a surplus of $3.8 billion, equalling the total deficit number for the month.

For the central bank's report