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TURKEY: Current Account Moves to Deficit of $2.8bln in November

TURKEY
BulletEM BulletEmerging Market News
  • Turkey’s current account moved to a deficit of $2.871bln in November (Est: -$3.35bln) from revised +$1.84bln in October, according to data from the CBRT. The deficit in goods trade stood at $5.2bln while a surplus of $3.7bln was recorded in services.
  • Meanwhile, retail sales rose 16.4% y/y in November versus a revised +15.5% in October, according to the Turkish Statistical Institute. On a month-on-month basis, retail sales rose 1.9% compared to +0.5% prior.
  • Dunya run a piece in which they note that the share of foreign investors in the bond market, an important indicator of the success of the economic program, has increased. According to bankers, foreigners bought nearly $2bln worth of bonds in just three days last week.
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  • Turkey’s current account moved to a deficit of $2.871bln in November (Est: -$3.35bln) from revised +$1.84bln in October, according to data from the CBRT. The deficit in goods trade stood at $5.2bln while a surplus of $3.7bln was recorded in services.
  • Meanwhile, retail sales rose 16.4% y/y in November versus a revised +15.5% in October, according to the Turkish Statistical Institute. On a month-on-month basis, retail sales rose 1.9% compared to +0.5% prior.
  • Dunya run a piece in which they note that the share of foreign investors in the bond market, an important indicator of the success of the economic program, has increased. According to bankers, foreigners bought nearly $2bln worth of bonds in just three days last week.