Bora Tamer

Turkey's current account gap sees 6-year lows

Turkey?s current account deficit narrowed to the lowest level of the last six years in August to $163 million amid a slowing down in the economy and a sharp decrease in the foreign trade gap. 

The country?s foreign trade deficit was announced as $4.9 billion in August, a decrease of around 40 percent from the same month in 2014 due to a plunge in oil and a rise in car exports. 

Industrial production up in June

Turkish industrial production was up sharply in June, as manufacturing and energy output surged, the Turkish Statistical Institute reported on Aug. 7.

Industrial production increased 5.5 percent in June, compared with the same month last year, the report said. Production was also up 2.4 percent from May 2015.

Turkey's consumer price index drops in June

Inflation in Turkey dropped sharply in June with decreasing food prices, the Turkish Statistical Institute (TÜ?K) stated on July 3, but analysts doubt that a further decline is in store. 

The Consumer Price Index dropped 0.51 percent in June from May, bringing the annual inflation rate to 7.20 percent in June from 8.09 percent in May.