The government has announced a 20 percent surcharge on some gold and jewellery imports, apparently to help efforts to reduce the current account deficit.
According to the presidential decree published in the Official Gazette, the additional charge will be levied on certain gold products and jewellery originating from countries that do not have a free trade agreement with Turkey, in addition to existing import and other duties.
The decision also excludes imports from EU Member States.
The surcharge will apply to gold jewellery and base metal products plated with precious metals.
Imports of precious metals and stones surged 151 percent year-on-year to $21.3 billion in the January-July period, Commerce Department data showed earlier this month.
In July alone, imports of these goods jumped nearly 56 per cent year-on-year to more than $3 billion.
In May, the current account deficit widened to $7.93 billion from $5.4 billion in April, with the trade gap widening to $10.5 billion from $7.05 billion.
Excluding gold and energy, the current account showed a net deficit of $1.28 billion, the central bank said.
Surveys have shown that analysts were expecting the current account to post a surplus of around $420 million in June due to tourism receipts and the narrowing of the external deficit.
