current account balance, $4 billion deficit in July gave. Growing energy The current account deficit was expected to reach $3.6 billion as prices led to sharp growth in the trade deficit.
7-month current account deficit of 36.7 billion dollars While, as of July 12-month current account deficit of 36.6 billion dollarsa came out.
In July $5.5 billion inflow of money of uncertain origin it happened. In the net errors and omissions item, there is a surplus of 24.35 billion dollars in the January-July period.
Meanwhile, the current account deficit for June was revised from 3 billion 458 million dollars to 3 billion 492 million dollars.
According to CBRT data; The current account deficit increased by 3 billion 700 million dollars compared to the same month of the previous year and reached 4 billion 10 million dollars. As a result, the twelve-month current account deficit rose to 36 billion 585 million dollars.
According to the Central Bank’s assessment; The foreign trade deficit defined in the balance of payments increased by 6 billion 162 million dollars compared to the same month of the previous year and rose to 9 billion 308 million dollars. On the other hand, in the same period, inflows from services balance increased by 2 billion 268 million dollars and rose to 5 billion 778 million dollars, while outflows from primary income balance decreased by 181 million dollars to 559 million dollars.
If you are wondering how this current account deficit is financed, look at your net error and shortcoming, which is at its historical peak 👇
In the first 7 months of the year, two-thirds of the $36.7 billion current account deficit was funded by net errors and omissions (source of which could not be identified). pic.twitter.com/YkDW5qubHU
— Hakan Kara (@ali_hakan_kara) September 12, 2022
Core deficit gave a surplus of 3.7 billion dollars
While the current account, excluding gold and energy, gave a surplus of 3 billion 124 million dollars in the same month of the previous year, it gave a surplus of 3 billion 737 million dollars in July 2022.
Under the services balance, net revenues arising from the travel item increased by 1 billion 578 million dollars compared to the same month of the previous year and rose to 4 billion 90 million dollars.
The secondary income balance item, which recorded a net inflow of $66 million in the same month of the previous year, recorded a net inflow of $79 million this month.
Net outflow of 631 million dollars in portfolio investments
Net inflows from direct investments were $252 million. Portfolio investments showed a net outflow of $631 million. Analyzing by sub-items, it is seen that non-residents made net sales of $222 million and $173 million, respectively, in the stock and government domestic debt securities markets.
Regarding bond issuances abroad, banks made a net repayment of 13 million dollars.
Under other investments, effective and deposit assets of domestic banks in foreign correspondents increased by $983 million.
Domestic deposits of foreign banks showed a net increase of 698 million dollars, of which 411 million dollars in foreign currency and 287 million dollars in Turkish lira.
Regarding the loans obtained from abroad, banks realized a net repayment of 801 million dollars and other sectors realized a net use of 3 billion 525 million dollars.
Official reserves showed a net increase of 4 billion 423 million dollars in July.