Turkey reported a current account deficit of $2.36 billion for September compared with a surplus of $2.83 billion in the same month a year earlier, the central bank said.
The deficit narrowed from $4.32 billion in August, according to data published by the bank on Wednesday.
The 12-month rolling current account gap increased to $27.5 billion, it said.
Turkey’s balance of payments has deteriorated this year after a government-engineered borrowing boom led to a surge in demand for imports and exports suffered due to the outbreak of COVID-19. Turks have also purchased increasing amounts of imported gold after the lira slumped against major currencies.
The September deficit was expected to total $2.7 billion, according to the average estimate in a survey of 19 economists by the state-run Anadolu news agency. Forecasts had ranged from $2.2 billion to $4.5 billion.
The current account, excluding gold and energy, posted a surplus of $3.24 billion compared with a surplus of $6.05 billion in September 2019.
The central bank’s reserves of foreign currency fell by $3.63 billion during the month, it said.