Turkey Reports Shortfall In Balance Of Payments In May

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.

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