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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
TURKEY
MNI (London)
APR CURRENT ACCOUNT BLNCE -2.74B (FCST -3.20B); MAR -5.79Br
APR INDUSTRIAL PRODUCTION 0.0% M/M; MAR -1.7%r M/M
APR INDUSTRIAL PRODUCTION +10.8% Y/Y (FCST 6.4%); MAR +9.8%r Y/Y
APR RETAIL TRADE +2.1% M/M; MAR +0.7% M/M
APR RETAIL TRADE WDA +14.7% Y/Y; MAR +2.7%r Y/Y
- The Turkish current account deficit narrowed by just over USD 3bln to USD -2.74bln in April, bringing the 12-month tolling average to USD 25.71bln. The goods deficit reached USD 4.43bln, approx. USD 2.67bln above that of April 2021, whilst services rose to a USD 2.70bln surplus.
- Excluding gold and energy, the Turkish CA balance would stand at USD +4.02bln, up USD 1.13bln y/y.
- Turkish IP saw no growth in April compared to March, however a +10.8% y/y uptick from +9.8% y/y was highlighted in the annual comparison. Manufacturing increased 11.9% and mining and quarrying expanded 7.4%, accounting for the bulk of growth recorded in April, despite constraints to supply of the Ukraine war and supply disruptions.
- The retail sector saw a solid bounce to +14.7% y/y in April from +2.7% y/y recorded the month prior. Non-food sales were up 31.3%, whereby textiles, clothing and footwear expanded a substantial 72.5% y/y. Downwards pressures on the April print came from the food, drinks and tobacco category, alongside automotive fuels (down 2.8% y/y).
Source: Turkish Staristical Instiute
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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