Although the current account deficit was below market expectations in April, the deterioration in the balance of payments continues.
The current account deficit increased by $ 1 billion 222 million compared to the same month last year and reached $ 2 billion 737 million. The market expectation was that a $ 3 billion deficit would form in April. In the January-April period, the current account deficit was $ 21.73 billion. In the first 4 months of last year there was a deficit of 9 billion and 59 million dollars. In April, the 12-month current account deficit increased to $ 25 billion and $ 710 million. Therefore, the highest annualized deficit since the period of July 2021 was realized.
According to the assessments of the Central Bank; The defined external trade deficit in the balance of payments increased by $ 2 billion 692 million to $ 4 billion 433 million.
While the current account, excluding gold and energy, recorded a surplus of $ 1 billion 132 million in the same month last year, this month gave a surplus of $ 4 billion 22 million.
Net inflows from the services balance increased by $ 1 billion 482 million compared to the same month last year and rose to $ 2 billion 699 million.
In the balance of services, the net revenues deriving from the travel item increased by 933 million dollars compared to the same month of the previous year and amounted to 1 billion 99 million dollars.
Net outflows from the primary income balance fell by $ 328 million from the same month last year and fell to $ 970 million.
The secondary income balance item, which recorded a net inflow of $ 307 million in the same month last year, recorded a net outflow of $ 33 million in the current month.
Net outflow of $ 606 million in portfolio investments
Net direct investment inflows were $ 323 million in April. Portfolio investments recorded a net outflow of $ 606 million. Analyzing by subheadings, non-residents made a net purchase of $ 139 million on the stock market and a net sale of $ 136 million on the national 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 made a new bond issue of $ 305 million.
Under other investments, domestic banks’ actual and deposit assets in their foreign correspondents decreased by $ 1 billion 458 million.
Internal deposits of foreign banks recorded a net increase of 1 billion 125 million dollars in total, 958 million dollars in foreign currency and 167 million dollars in Turkish lira.
As for loans obtained from abroad; banks, governments and other sectors realized net use of $ 280 million, $ 34 million and $ 248 million, respectively.
There was a net increase of $ 3 billion and $ 217 million in official reserves this month.
The omission of net errors produced a $ 4.5 billion surplus
Net errors and omissions, defined as cash inflows of uncertain origin, recorded a surplus of 4 billion and 508 million dollars in April. In the first 4 months of the year there were 11 billion and 751 million dollars of inflows of uncertain origin.