Reminding that the current account deficit decreased by 2023 percent to 65,2 billion dollars in December 2,1, and decreased by 2023 percent to 8 billion dollars in all of 45,2, Bolat said, “For the first time, the figure of 100 billion dollars was reached in service exports. With the decrease in the foreign trade deficit in the second half of 2023, there was a significant improvement in the current account. “The decline in the current account deficit is expected to continue in 2024.” made his assessment.
Bolat stated that the annualized current account deficit, which was 2023 billion dollars in May 60,1, decreased by 14,9 billion dollars in the following months and fell to 45,2 billion dollars as of December, and that the annualized foreign trade deficit has decreased every month since July last year, thus the annualized He stated that the current account deficit has decreased every month and recorded a positive trend.
TRAVEL REVENUES SET A RECORD
Stating that the balance of payments-defined foreign trade deficit, which decreased by 43,2 percent annually to 4,6 billion dollars, was effective in the decline in the current account deficit in December, Bolat said:
“Service revenues reached a record level of $2023 billion in 100. Travel revenues, which are included under services, broke their record by reaching 48 billion dollars. As the Ministry of Commerce, we continue our work in cooperation with our stakeholders to ensure the sustainability of the positive trend in the current account, with the export strategies we have implemented and the supports we offer to increase the export of goods and services, as well as our import policies aimed at protecting domestic producers against unfair competition. We are determined to move the Turkish economy to a more competitive and strong position with our policies shaped within the scope of innovation, production, investment, employment, exports and fair distribution. “We aim to strengthen the macroeconomic stability necessary for a permanent improvement in the current account and a sustainable increase in welfare.”
