Turkey reports current account deficit in October
Turkey's balance of payments on current accounts, in line with the market expectations, posted a deficit of $232 million in October. As a result, balance of payments on current accounts reported a total deficit of $10.7 billion since the beginning of the year. At the same time, 12-month total deficit reached $14.2 billion. As it was recorded in the previous months, the main reason behind the current account deficit was trade balance deficits. In October, trade balance reported a deficit of $1.3 billion compared to $910 million recorded in the same period of last year. The mentioned deficit was financed by the net exchange inputs. However, factor income items, which reported a deficit of $333 million, caused a deficit in current accounts.