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TURKEY: Trade Deficit Widens to $7.30bn in July

TURKEY
  • Turkey’s trade deficit widened to $7.295bn (Est: -$7.20bn) in July from a revised -$5.892bn in June, according to the Turkish Statistical Institute. Exports rose 13.8% y/y while imports fell 7.8% y/y.
  • As a reminder, the CBRT noted in the summary of last week’s rate-setting meeting that the improvement in the current account balance is projected to resume in July, bolstered by travel revenues.
  • Vice President Cevdet Yilmaz will chair a meeting of the Economy Coordination Board at 09:00BST/11:00 local time. There are no other economic releases scheduled for today, with economic sentiment data on the docket tomorrow.

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