Turkey Posts Current Account Deficit of 27.6 Billion USD in 2018

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The Central Bank of the Republic of Turkey (TCMB) has announced the current account balance data of 2018.

Accordingly, the current account balance of the country had a deficit of 1 billion and 437 million US Dollars in December 2018, decreasing by 6 billion and 313 million dollars compared to December 2017 (1 USD equals to 5.32 TRY as of February 14).

The country's current account recorded a deficit of 27 billion and 633 million dollars.

Four-month run ended

The current account balance posted a surplus of 2 billion and 592 million dollars in August, 1 billion and 830 million dollars in September, 2 billion and 770 million dollars in October and 990 million dollars in November.

When gold and energy are excluded from the current account, it had a surplus of 2 billion and 505 million dollars. The current account balance posted a deficit of 451 million dollars in December 2017. (HA/VK)