Turkey reported a shortfall in balance of payments in May compared to the previous month, Turkish Statistical Institute press release revealed.
The release indicated a shortfall of Turkey balance of payments of $2.447 billion in May. In the preceding month, the country had a general balance of $3.819 billion.
Exports accounted for $14.519 billion in Turkey while imports represented $20.16 billion in May. As a result, balance on goods accounted for $5.645 billion, which was wider than $3.5 billion in April.
Similarly, balance on goods and services shortfall widened to $4.527 billion in May from $2.386 billion in the preceding month. Balance on goods, services and primary income shortfall also widened to $5.48 billion from $3.599 billion in the same period.
Turkey current account deficit too widened to $5.24 billion from $3.6 billion in the previous month.