Turkey’s current account balance registered a $7.1 billion (TL 106.2 billion) deficit in January, w

Turkey’s current account balance registered a $7.1 billion (TL 106.2 billion) deficit in January, widening by $5.3 billion year-over-year, according to official data released on Friday. This stemmed from a significant rise in the goods trade deficit, which soared by $6.4 billion to reach $8.3 billion, the central bank said. The country's 12-month rolling deficit stood at $20.2 billion this January. The gold and energy-excluded current account posted a $1.5 billion surplus, up from a surplus of $1.3 billion in the same month of last year. A group of 26 economists surveyed by the Anadolu Agency (AA) this week projected the current account deficit would come in at $6.97 billion in January. The survey showed the end-2022 current account balance is forecast to see a deficit of $26.52 billion. In December 2021, the current account had a deficit of $3.84 billion.