Turkish Current Account Deficit Narrows Thanks to Summer Tourism

Turkey’s current-account deficit shrank by almost 90% in August from the previous month, as a boom in tourism helps offset a yawning gap in trade.

The broadest measure of trade and investment flows with the outside world had a shortfall of $619 million, compared with a revised deficit of $5.5 billion in July, according to data published by the central bank on Wednesday. Economists surveyed by Bloomberg expected a gap of $550 million in August.