Turkey's 2020 current account deficit at $36.7B: CBank

Current account balance posted $3.2B deficit in December, up $473M year-on-year, official data shows

By Tuba Sahin

ANKARA (AA) - Amid pressure from the coronavirus pandemic, Turkey ran a current account deficit of $36.7 billion in 2020, the Turkish Central Bank announced on Friday.

The figure widened from a surplus of nearly $6.76 billion the previous year (with revisions), the bank said.

In December 2020, the balance posted a $3.2 billion deficit, a rise of $473 million from the same month of the previous year, according to the data.

The rise in December figures was led by decreases in surpluses in services and secondary income.

An Anadolu Agency survey last week showed a panel of 13 economists forecast an annual deficit of $39 billion, ranging between $37.8 billion and $41.3 billion.

The survey also predicted the current account balance would show a deficit of $3.6 billion in December.

In November 2020, the current account posted a $3.63 billion deficit.

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