Turkey's C/a Deficit Exceeds Expectations In June

- Turkey's current account deficit exceeded the expectations in June at 3.36 billion dollars, 12 percent higher than the expectations of the analysts and economists from banks and brokarege houses, according to the data released by the Central Bank on Tuesday.

The current account deficit is seen as one of the main issues of the Turkish economy, depended on energy imports more than 40 billion dollars. Monthly current account deficit in June higher than the expectations at around 3.0 billion dollars, despite a decrease of 812 million dollars compared to June of the previous year.

The deficit rose to 22.7 billion dollars in the first half of the year, while the 12-month rolling deficit rose to 44.69 billion dollars at the end of June.

The improvement in the current account is mainly stemmed from balance of goods item, which decreased 1.43 billion dollars compared to June 2014 realizing at 4.84 billion dollars.

Meanwhile, services surplus fell by 460 million dollars to 2.29 billion dollars, while primary income deficit rose to 909 million dollars with an increase of 160 million dollars compared to the same month of the previous year.

Nonmonetary gold item fell by 82 percent to 196 million dollars in June, from 1.07 billion dollars in the same month of last year.

Under services item, travel item recorded a net inflow of 2.19 billion dollars faalling by 558 million dollars against in the same month of 2014.

Investment income under primary income item indicated a net outflow 822 million dollars, increasing by 147 million dollars compared to the same month in 2014.