In November, Turkey witnessed a continued yet slightly decelerated growth in retail sales, as reported by the Turkish Statistical Institute on Monday. The annual volume of retail sales rose by 16.4%, following a 15.5% increase observed in October.
Sales in the non-food products sector, excluding automotive fuel, saw a remarkable annual jump of 21.9%, while sales of food, beverages, and tobacco experienced an 11.1% growth. In contrast, automotive fuel sales showed a marginal increase of just 0.1%.
From a month-to-month perspective, retail sales grew by 1.9%, a more rapid increase compared to the 0.5% rise observed in the prior month, marking the sixth consecutive month of growth.
In other economic indicators, Turkey's current account deficit expanded to $2.87 billion in November, up from $2.62 billion in the same month the previous year, as per data from the Central Bank of the Republic of Turkey. Excluding gold and energy, the current account reflected a net surplus of $3.4 billion. Concurrently, the goods deficit increased to $5.23 billion from $4.47 billion.
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