Turkey posts current account surplus in September

Turkey posts current account surplus in September

Turkey's balance of payments on current accounts posted a surplus of $60 million in September. This figure was slightly lower than the market expectations. Accordingly, balance of payments on current accounts reported a total deficit of $10.6 billion since the beginning of the year. At the same time, 12-month total deficit reached $14 billion. According to official data released last month, current account deficit was recorded as $9.8 billion in the first eight months of the year. The reason that the deficit increased to $10.6 billion is the revision of unsecured imports data by the Central Bank of Turkey. With the recent adjustment, imports showed an increase of $712 million in the first nine months of the year. However, the same size increase in net error and omissions offset this increase. As a result, general balance of payments has shown no difference.