The current account deficit doubled in the first 4 months

The Central Bank has announced balance of payments data for April. As a result, the current account deficit increased by $ 1 billion 222 million in April compared to the same month last year to $ 2 billion 737 million.

Thus, in the first 4 months of the year, the current account deficit reached 21 billion and 73 million dollars. Compared to the first 4 months of last year, it increased by 132.6%. In the period January-April 2021, the current account deficit was 9 billion and 59 million dollars.

According to the Centre’s statement, the increase in the April hike is due to the $ 2 billion 692 million increase in the defined external trade deficit in the balance of payments to $ 4 billion 433 million. While the current account, excluding gold and energy, recorded a surplus of 1 billion and 132 million dollars in the same month of the previous year, in April of this year it gave a surplus of 4 billion 22 million dollars.

EXIT 606 MILLION DOLLARS

Net direct investment inflows were $ 323 million in April. Over this period, portfolio investments recorded a net outflow of $ 606 million.

In April, non-residents made a net purchase of $ 139 million on the stock market and net sales of $ 136 million on the government debt market.

As for overseas bond issues, banks and other sectors made net redemptions of $ 606 million and $ 26 million, respectively, while the general government issued new bonds of $ 305 million.

Domestic banks’ actual and deposit assets in their foreign correspondents decreased by $ 1 billion 458 million. Internal deposits of foreign banks increased by 1 billion 125 million dollars, 958 million dollars in foreign currency and 167 million dollars in Turkish lira.

DECREASE OF OFFICIAL RESERVES

Banks, governments and other sectors related to foreign borrowing achieved net uses of $ 280 million, $ 34 million and $ 248 million, respectively.

Official reserves fell by $ 3 billion to $ 217 million net in April.