Turkey: Current account swings to surplus in July
Latest reading: The current account posted a USD 1.8 billion surplus in July, improving from the USD 2.0 billion deficit booked in June (July 2024: USD 1.4 billion surplus). Meanwhile, the 12-month trailing current account deficit narrowed, coming in at USD 18.8 billion in July (June: USD 19.2 billion deficit).
The merchandise trade balance improved from the previous month, recording a USD 4.6 billion shortfall in July (June: USD 6.5 billion deficit). Merchandise exports increased 12.1% year-on-year in July, following June’s 9.1% rise. Meanwhile, merchandise imports rose 8.2% over the same month last year in July (June: +18.0% yoy).