Turkey's 2014 Current Account Deficit At 45.84 Billion Dollars

- Turkey's current account deficit stood at 45.84 billion dollars, in line wit the expectations at around 45.4 - 45.5 billion dollars, according to the balance of payments data released by the Central Bank on Wednesday.

Turkey's current account deficit shrank by 18.82 billion dollars in 2014, from 64.66 billion dollars in 2013, due to lira depreciation at around 30 percent over the same period, which hit the imports and pushed the trade deficit down by 15.4 percent.

"The decrease in the current account deficit is mainly attributable to 16.32 billion dollars decrease in foreign trade deficit recording 63.59 billion" the Central Bank said in the statement.

There was also 2.51 billion increase in services surplus reaching to 25.35 billion dollars, as well as 263 million dollars decrease in primary income deficit recording 8.72 million dollars.

As regards to the government domestic debt securities, non-residents realized net purchases of 370 million dollars, decreasing from the net purchases of 4.13 billion dollars recorded in 2013.

The bond issues in international capital markets, banks and other sectors borrowed 10.2 billion dollars and 3.18 billion dollars on net basis, respectively.

The deposits of nonresident Turkish citizens within the Central Bank recorded a net outflow of 2.33 billion dollars. Other sectors’ loan disbursement increased by 47 billion dollars to 5.8 billion dollars on net basis.