The figure marked a rise of $30,446 million from a year earlier as the current deficit in 2010 was $46,643 million.
The Central Bank released balance of payments figures for 2011. On monthly figures, current deficit in December 2011 was $6,573 million.
The rise in the current deficit was mainly triggered by increasing foreign trade deficit.
Under services account, the travel revenues increased by 10.6 percent to 23,020 million USD and the travel expenditures increased by 3.1 percent to 4,976 million USD in comparison to 2010.
The main sub-items under investment income, namely direct investment, portfolio investments and other investment consisting of the interest income and expenditures recorded a net outflow of $7,576 million in 2011, increasing by $567 million over 2010.
Non-residents' net direct investment in Turkey reached $15,732 million in 2011, increasing by $6,694 million over 2010. Residents' net direct investment abroad recorded $2,312 million in 2011 with $848 million increase over 2010.
As regards to government domestic debt securities issued in the domestic capital market, non-residents realized net purchases of $14,805 million in 2011, including net purchases of $3,208 million observed in December.
As regards to bond issues in international capital markets, banks borrowed $129 million in December, as a result, banks' net borrowing of $3,026 million was observed in 2011.
Banks' currency and deposit assets in the form of foreign exchange and Turkish Lira recorded a decrease of $66 million in 2011 as a result of $2,256 million decrease in foreign exchange, in contrast to $2,190 million increase in Turkish Lira. Other sectors' deposit assets abroad recorded a decrease of $12,320 million in 2011. |
Source : en.cumhuriyet.com
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