Balance Of Payments

-CURRENT ACCOUNT BALANCE RECORDS USD 4.5 BILLION DEFICIT BETWEEN JANUARY AND JULY 2003

ANKARA - The current account balance recorded a deficit of 4.5 billion U.S. dollars between January and July 2003.
The current account balance had also shown a deficit of 1 billion 306 million U.S. dollars in the same period last year.
Releasing a statement on Thursday, the Central Bank announced the balance of payments statistics in January-July period in 2003.
According to the statement, foreign trade deficit, which increased by 69,3 percent in comparison with the same period of the previous year, realized as 6 billion 943 million U.S. dollars in January-July 2003.
The key factors underlying this development are;
- the increase of export revenues by 30,7 percent,
- the decrease of shuttle trade by 3,8 percent and,
- the increase of import (CIF) expenditures by 33,7 percent.
Net revenues from services, income, and current transfers decreased by 14,1 percent, amounting to 2 billion 399 million U.S. dollars in January-July 2003.
Export (FOB) revenues, which became 19 billion 513 million in January-July 2002, increased by 30,7 percent realizing as 25 billion 513 million in January-July 2003.
Import (CIF) expenditures including gold imports increased by 33,7 percent from 27 billion 386 million U.S. dollars in January-July 2002 to 36 billion 607 million U.S. dollars in January-July 2003.
Shuttle trade decreased by 3,8 percent from 2 billion 128 million U.S. dollars in January-July 2002 to 2 billion 47 million in January-July 2003.
''The processed goods'' item, which is composed of the exports/imports of raw materials and of goods after being processed, realized 6 billion 831 million U.S. dollars in January-July 2003. This amount included the net figure of exported goods being processed in Turkey, which realized as 6 billion 727 million U.S. dollars.
As a result of these developments, the foreign trade balance, which had resulted in a deficit of 4 billion 100 million U.S. dollars in January-July 2002, increased by 69,3 percent to a deficit of 6 billion 943 million U.S. dollars in January-July 2003.
(EÖ-AÖ) 26.09.2003