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Turkey's 11-mo c/a deficit narrows to $38.7 bln

Author Yurkie Ali
Turkey's 11-mo c/a deficit narrows to $38.7 bln Author: Logwin. License: All rights reserved.

ISTANBUL (Turkey), January 13 (SeeNews) – Turkey's current account deficit narrowed to $38.716 billion (32.718 billion euro) in the first eleven months of 2014 from $56.665 billion a year earlier, the country's central bank said on Tuesday.

The decrease is mainly attributable to a $15.17 billion contraction in the foreign trade deficit to $56.67 billion, a $2.4 billion rise in services' surplus to $24.85 billion and a $576 million decline in primary income deficit to $7.92 billion, the central bank said in a statement.

In November alone, Turkey’s current account gap widened to $5.636 billion from $4.215 billion a year earlier, central bank data showed.

($ = 0.845 euro)

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