Turkish current account gap narrows in April

ANKARA

REUTERS photo

Turkey’s current account deficit shrank to $3.6 billion in April, a fall of $542 million year-on-year, the Central Bank said on June 12.      

April’s deficit means the 12-month rolling deficit stands at $33.2 million, the bank said.        

The improvement was mainly driven by a reduction in the import-export gap to $3.5 billion, down $563 million from a year earlier and an increase in the net income from services to $1.1 billion, representing a rise of $346 million.