In March 2023, the current account deficit was $4.5 billion, below market expectations. The current account deficit rose to $23.6 billion in the first quarter of 2023. While the current account deficit was 17.8 billion dollars in the first quarter of 2022, it increased to 23.6 billion dollars in the first quarter of 2023.
The estimated current account deficit figure of the economists who answered the AA Finans Balance of Payments Expectation Survey for March was $5.74 billion, and the average current account deficit estimate of the economists who answered the Reuters survey was $5.2 billion.
In March 2023, the balance of payments defined as foreign trade deficit was 6 billion 298 million dollars.
While the net revenues arising from the travel item were 2 billion 67 million dollars, the inflows from the services balance, the top item that this item is related to, were recorded as 3 billion 88 million dollars.
It was stated that while the secondary income balance item recorded a net inflow of 80 million dollars, the primary income balance item recorded a net outflow of 1 billion 354 million dollars, and a net outflow of 1 billion 33 million dollars from portfolio investments.
While net inflows arising from direct investments were 238 million dollars in March 2023, while net foreign inflows (from real estate) were 453 million dollars, it was 1 billion 373 million dollars in the first quarter.
While a net outflow of 1 billion 33 million dollars in portfolio investments was realized in March 2023, a net decrease of 1 billion 442 million dollars was recorded in the effective and deposit assets and gold of other investments, domestic banks' foreign correspondents.
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