Depenedence in energy widens gap

ANKARA - Anatolia News Agency

The Central Bank Gov Erdem Başçı. REUTERS photo

As Turkey’s current account deficit reached $65.5 billion in the first 10 months of the year, the country’s energy imports hit $44.2 billion in the same period, accounting for 67 percent of Turkey’s total current account deficit, according to Turkey’s Central Bank data.

Turkey’s current account deficit rose by 94 percent compared to last year and hit $65 billion in the first 10 months of this year, according to official data released yesterday. Turkey’s total imports rose to $201.6 billion in the same period, according to Turkey’s Statistical Institute (TUİK).

While Turkey’s non-energy imports reached $157.4 billion, energy imports hit $42.2 billion in the same period of this year. Rapidly growing Turkey paid most of the sum to motoring, gas, oil and LPG (liquefied petroleum gas). Turkey paid nearly $7.1 billion for motoring imports, $2.4 billion to LPG and $1.46 billion to gas in the first 10 months of this year. Turkey’s Deputy Prime Minister Ali Babacan said, “Turkey’s initiatives with Russia and Japan to build nuclear plants in Turkey would contribute to the country lessening its dependency on energy imports in the long run,” the agency reported yesterday.