According to the balance of payments data announced by the Central Bank of the Republic of Turkey (TCMB), the current account deficit was 7 billion 933 million dollars in May 2023.
The foreign trade deficit, defined in the balance of payments, was 10 billion 480 million dollars in May. In this period, inflows from services balance amounted to 3 billion 858 million dollars, and net income from travel item was 3 billion 50 million dollars.
The primary income balance item recorded a net outflow of 1 billion 320 million dollars, and the secondary income balance item recorded a net inflow of 9 million dollars.
In May, there was a net inflow of 89 million originating from direct investments and a net outflow of 1 billion 412 million dollars in portfolio investments.
Regarding loans from abroad, the General Government realized net repayments of $49 million, while banks and other sectors realized net disbursement of $725 million and $37 million, respectively.
There was a net decrease of 16 billion 578 million dollars in official reserves this month.