15:09 - 11.10.2024

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October 11, Fineko/abc.az. In August, Türkiye has recorded its highest current account surplus in the last five years, helped by increased tourism, which helped offset the country's trade deficit.

ABC.AZ reports that the central bank informed surplus of $4.3 billion, compared with a revised figure of $778 million in July. Economists had expected surplus of $4.2 billion.

The main factor was net surplus of services in the amount of $8.7 billion, while deficit in goods reached $2.9 billion.

Improvement in current account indicators demonstrates how tight monetary policy contributes to reducing demand for imported goods through high interest rates and limiting credit growth. Gold imports, which had previously significantly increased deficit due to inflation, also declined this year.

Istanbul-based economist Halyuk Burumjekci noted that decrease in imports is mainly linked with decrease in purchases of intermediate and capital goods.