Türkiye's central bank has reported a significant increase in the country's current account surplus for July 2024, reaching $566 million.

This figure surpassed market expectations and represents a notable improvement from the revised $330 million surplus in June and a substantial shift from the $5.5 billion deficit recorded in July 2023.

Excluding gold and energy, Türkiye's current account posted a robust surplus of $4.9 billion for July. Despite a goods deficit of $5.2 billion, the services sector contributed positively with a net surplus of $6.9 billion, driven largely by a $5.6 billion net inflow from the travel category.

For the January-July period, Türkiye's current account balance showed a $16.1 billion deficit.

In July, the country experienced a net inflow of $670 million in direct investments. Portfolio investments also performed strongly, with a net inflow of $3.726 million. Notably, non-residents made net sales of $21 million in equity securities, while government domestic debt securities saw net purchases totaling $2.479 million.

This data underscores Türkiye's improving economic indicators and highlights positive trends in investment inflows. (ILKHA)