According to the balance of payments data announced by the Central Bank of the Republic of Turkey (CBRT), the current account deficit increased by 2 billion 229 million dollars in March compared to the same month of the previous year and s amounted to 5 billion 554 million dollars. As a result, the 12-month current account deficit rose to $24.223 million.
The increase in the foreign trade deficit defined in the balance of payments from 3 billion 356 million dollars to 6 billion 342 million dollars has been effective in this development.
In the current account, excluding gold and energy, which had a deficit of $314 million in March last year, a surplus of $2.480 million was recorded in the same period of this year. During this period, the net inflows of the balance of services increased by 1 billion 472 million dollars and reached 2 billion 329 million dollars.
In the balance of services, net travel receipts reached $1.450 million in March, up $708 million from the same period a year earlier. During the same period, net outflows from the primary income balance increased by $174 million to $1.397 billion. In the secondary income balance item, which recorded an inflow of $27 million in March last year, there was an outflow of $144 million in the same month of 2022.
On the other hand, the current account deficit for the month of February was revised from 5 billion 154 million dollars to 5 billion 441 million dollars.