CURRENT ACCOUNT
- The current accountdeficit recorded USD 2,527 million indicating an increase of USD 564 million compared to February of the previous year, bringing the 12-month rolling deficit to USD 33,747 million.
- This development in the current account is mainly attributable to USD 546 million increase in the deficit ingoodsitem recording USD 2,491 million. On the other hand, in the same period secondary income net inflows recorded USD 154 million, decreasing by USD 230 million; while the services item net inflows recorded USD 519 million, increasing by USD 200 million.
- Travel item, one of the main items under services, recorded a net inflow of USD 502 million increasing by USD 20 million compared to the same month of the previous year.
- Investment incomeunder primary income item indicated a net outflow of USD 645 million decreasing by USD 26 million in comparison to February 2016.
FINANCIAL ACCOUNT
- Direct investment recorded a net inflow of USD 270 million (increase in net liabilities) decreasing by USD 2 million compared to the same month of the previous year.
- Portfolio investmentrecorded a net inflow of USD 907 million. As regards to subitems through liabilities, non-residents’ equity securities and government domestic debt securities transactions recorded net purchases of USD 331 million and USD 179 million, respectively.
- Regarding the bond issuesin international capital markets, General Government realized a net repayment of USD 335 million, while banks realized a net borrowing of USD 245 million.
- Other investment recorded a net inflowof USD 2,010 million.
- Under other investment, banks’currency and deposits within their foreign correspondent banks decreased by USD 1,625 million and nonresident banks’ deposits held within domestic banks increased by USD 936 million on a net basis.
- Regarding the loans provided from abroad, General Government andother sectors were net borrowers in the amount of USD 135 million and USD 280 million, respectively while the banks realized a net repayment of USD 256 million.
- Official reservesrecorded a net increase of USD 576 million.
Source: Central Bank of the Turkish Republic – February 2017
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