Economy of the Arab League

BELGRADE - The National Bank of Serbia Instant Payment System (NBS IPS), which operates round the clock, processed 5,114,792 transactions in April.

The value of turnover was 52.8 bln dinars and the daily average was 1.7 bln dinars, the NBS said in a statement.

Türkiye's exports increased by 4.4 percent in March from a year ago to 23.6 billion, data from the Turkish Statistical Institute (TÜİK) have shown.

Imports rose 3.4 percent on an annual basis to $31.9 billion. Consequently, the country's foreign trade deficit amounted to $8.3 billion, marking a limited 0.9 percent increase compared with March last year.

Türkiye's foreign assets declined by 2.3 percent from the end of 2022 to stand at $303 billion as of February, the Central Bank has said.

The Turkish automotive sector's export revenues reached a monthly record of $3.3 billion in March, rising nearly 23 percent from a year ago.

This made automotive Türkiye's biggest exporting industry, with a 13.9 percent share in the country's export revenues last month, according to a statement from the Uludağ Automotive Industry Exporters' Association (OİB).

Türkiye's chemicals industry generated a total of $7.4 billion in export revenues in the first three months of 2023.

This corresponded to 12.1 percent of the country's total export revenues in January-March, which stood at $61.6 billion.

The World Bank has revised upwards its 2023 and 2024 GDP growth estimates for the Turkish economy in its Europe and Central Asia Economic Update report.

The bank expects the Turkish economy to expand at 3.2 percent in 2023, up from a previous 2.7 percent, while it lifted its growth estimate for 2024 from 4 percent to 4.3 percent.

Türkiye's exports showed a 4.4 percent increase in March from a year ago to stand at $23.6 billion, the preliminary data from the Trade Ministry have shown.

This marked an all-time-high March figure in exports, Trade Minister Mehmet Muş said.

"We expect the impact from the earthquakes on production and exports to wane further in the coming months," Muş said.

After two years of trade deficits propped up by high imports, Slovenia once again reported a monthly surplus in February though the trade balance remains negative for the first two months of the year.

BELGRADE - Serbia registered a 3 bln dinar budget deficit between January and February 2023, the Ministry of Finance said on Tuesday.

Revenues totalled 280.7 bln dinars, while expenditures amounted to 283.8 bln dinars.

A 9.1 bln dinar deficit was registered in February, the ministry said in a statement.

Türkiye's foreign trade deficit widened by 51 percent year-on-year in February, reaching $12.1 billion, the country's statistical authority said on March 31.

The country's exports fell 6.4 percent from a year earlier to $18.6 billion in January, while imports increased 10.1 percent to $30.7 billion, the latest data showed.