Turkey's current account deficit narrowed in April, data from the central bank revealed on Monday.
The current account deficit fell to $1.71 billion from $3.42 billion in the previous month. In the same period last year, the shortfall was $5.29 billion. The latest deficit was the lowest since October 2020.
The annual decline was mainly driven by a sharp decline in the goods deficit to $1.51 billion, and increase in net inflow in services item to $811 million.
Gold and energy excluded current account indicated $942 million surplus, which was observed as $3,548 million deficit in the same month of the previous year.
Under services, travel item recorded a net inflow of $596 million in April.
Primary income outflow increased by $110 million on net basis compared to the same month of the previous year, realizing $1.258 billion.
Secondary income recorded net inflow of $248 million, increasing by $212 million compared to the same month of the previous year.