Turkey recorded a Current Account surplus of 1.20 percent of the country's Gross Domestic Product in 2019. source: Central Bank of the Republic of Turkey

Current Account to GDP in Turkey averaged -2.34 percent from 1980 until 2019, reaching an all time high of 1.90 percent in 2001 and a record low of -8.90 percent in 2011. This page provides - Turkey Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. Turkey Current Account to GDP - values, historical data and charts - was last updated on December of 2020.

Current Account to GDP in Turkey is expected to reach -3.40 percent by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the Turkey Current Account to GDP is projected to trend around -2.80 percent in 2021 and -3.20 percent in 2022, according to our econometric models.

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Turkey Current Account to GDP

Actual Previous Highest Lowest Dates Unit Frequency
1.20 -2.60 1.90 -8.90 1980 - 2019 percent Yearly

Turkey Trade Last Previous Highest Lowest Unit
Balance of Trade -2373.52 -4849.70 24.51 -10453.06 USD Million [+]
Current Account -2364.00 -4316.00 3903.00 -9407.00 USD Million [+]
Current Account to GDP 1.20 -2.60 1.90 -8.90 percent [+]
Imports 19702.79 20835.34 23245.30 15.00 USD Million [+]
Exports 17329.27 15985.64 17329.27 7.10 USD Million [+]
External Debt 421826.00 431034.00 467545.00 43911.00 USD Million [+]
Terms of Trade 106.01 108.25 147.63 93.96 points [+]
Capital Flows -2433.00 -7398.00 7145.00 -9574.00 USD Million [+]
Foreign Direct Investment 361.00 232.00 6571.00 46.00 USD Million [+]
Remittances 20.00 21.00 574.00 8.00 USD Million [+]
Tourism Revenues 4044.00 4101.00 14031.00 294.00 USD Million [+]
Tourist Arrivals 1742303.00 2203482.00 6617380.00 24238.00 Persons [+]
Gold Reserves 561.03 583.00 583.00 116.00 Tonnes [+]
Weapons Sales 364.00 245.00 364.00 3.00 USD Million [+]
Terrorism Index 6.53 7.04 7.52 4.62 [+]
Crude Oil Production 61.00 60.00 72.00 38.00 BBL/D/1K [+]


Turkey Current Account to GDP
The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.