Turkey’s current account posted a surplus of $674 million in June after 20 months.

According to the balance of payments data announced by the Central Bank of the Republic of Turkey (CBRT), there was a surplus of 5 billion 584 million dollars in the current account account, excluding gold and energy.

Foreign trade deficit defined in the balance of payments was 3 billion 697 million dollars in June. In this period, inflows from services balance amounted to 5 billion 19 million dollars, and net income from travel item was 4 billion 203 million dollars.

Turkey’s current account also posted a surplus for the first time since October 2021, with 674 million dollars in June.

Minister Bolat: We will continue our activities with determination in order to continue the improvement in current transactions.

Trade Minister Ömer Bolat made the following statements in his social media account:

In June, a surplus was given in the current account account after 20 months.

• The Central Bank of the Republic of Turkey (CBRT) balance of payments statistics for June was announced. The current account, which had a deficit of 2.6 billion dollars in June of the previous year, gave a surplus of 674 million dollars in June this year. Thus, a monthly surplus was given for the first time since October 2021. The current account, excluding gold and energy, had a surplus of 5.6 billion dollars.

• The foreign trade deficit defined in the balance of payments decreased by 42.5% and realized as 3.7 billion dollars in June, in the current account surplus. Our service exports increased by 11.9% and reached 9.5 billion dollars. Under this item, the revenues arising from the travel item increased by 18.5% and reached 4.8 billion dollars. Our service exports, on an annual basis, broke a record with 97.3 billion dollars in June.

• In order to maintain the improvement in current transactions in the coming period, we will continue our activities with determination, especially our efforts to increase the export of goods and services, as the Ministry of Commerce.

• Permanent improvement in the current account, as an important structural transformation area in our economy, will strengthen macro-financial stability and be an important gain for sustainable welfare increase within the scope of our innovation-oriented investment and production, export and employment priorities.

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