Turkey Current-Account Deficit Widened in February

By Ed Frankl

Turkey booked a larger deficit in its current account in February, with imports rising more than exports as oil prices crept up.

Its balance of payments, a measure of the gap between inflows into and outflows from the country, stood at a deficit of $3.27 billion in February, widening from $2.52 billion a month earlier, according to figures published by the central bank on Wednesday.

Turkey's goods deficit in February was $4.75 billion compared with a deficit of $4.41 billion in January.

Rising oil prices caused by Middle East tensions risk further hitting Turkey's balance of payments, given the country's reliance on energy imports, central bank Governor Fatih Karahan said at a forum in Washington D.C. on Tuesday.

Write to Ed Frankl at [e-mail]

(END) Dow Jones Newswires

04-17-24 0333ET