Turkey’s current account deficit narrowed to USD 4.48 billion in March 2023 from USD 5.58 billion in the corresponding month of the previous year and compared with market expectations of USD 5.20 billion. The goods account deficit fell to USD 6.3 billion from USD 6.5 billion in the previous year, while the services account surplus increased to USD 3.1 billion from USD 2.4 billion, due to travel item which recorded a net inflow of USD 2.1 billion. On the other hand, the primary income gap expanded to USD 1.4 billion from USD 1.3 billion, while the secondary income swung to a surplus of USD 0.80 billion from a USD 0.19 billion shortfall. Excluding gold and energy, the current account surplus shrank to USD 1.37 billion from USD 2.46 billion in the same period last year. source: Central Bank of the Republic of Turkey

Current Account in Turkey averaged -1394.03 USD Million from 1984 until 2023, reaching an all time high of 4104.00 USD Million in October of 2021 and a record low of -10020.00 USD Million in January of 2023. This page provides - Turkey Current Account - actual values, historical data, forecast, chart, statistics, economic calendar and news. Turkey Current Account - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.

Current Account in Turkey is expected to be -4200.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Turkey Current Account is projected to trend around -4800.00 USD Million in 2024 and -3200.00 USD Million in 2025, according to our econometric models.

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Turkey Current Account



Calendar GMT Actual Previous Consensus TEForecast
2023-04-10 07:00 AM Feb $-8.783B $-10.020B $-8.5B $-8.9B
2023-05-11 07:00 AM Mar $-4.484B $-8.761B $-5.204B $-8.9B
2023-06-12 07:00 AM Apr $-4.484B $-3.8B


Related Last Previous Unit Reference
Balance of Trade -12660.00 -8850.00 USD Million May 2023
Current Account -4484.00 -8783.00 USD Million Mar 2023
Current Account to GDP -5.40 -0.90 percent of GDP Dec 2022
Exports 21700.00 19320.00 USD Million May 2023
Imports 34300.00 28160.00 USD Million May 2023
Terms of Trade 86.40 84.92 points Mar 2023
Foreign Direct Investment 449.00 284.00 USD Million Mar 2023
Capital Flows -7822.00 -10060.00 USD Million Feb 2023
Remittances 25.00 11.00 USD Million Mar 2023

Turkey Current Account
Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).
Actual Previous Highest Lowest Dates Unit Frequency
-4484.00 -8783.00 4104.00 -10020.00 1984 - 2023 USD Million Monthly

News Stream
Turkey Current Account Gap Narrows in March
Turkey’s current account deficit narrowed to USD 4.48 billion in March 2023 from USD 5.58 billion in the corresponding month of the previous year and compared with market expectations of USD 5.20 billion. The goods account deficit fell to USD 6.3 billion from USD 6.5 billion in the previous year, while the services account surplus increased to USD 3.1 billion from USD 2.4 billion, due to travel item which recorded a net inflow of USD 2.1 billion. On the other hand, the primary income gap expanded to USD 1.4 billion from USD 1.3 billion, while the secondary income swung to a surplus of USD 0.80 billion from a USD 0.19 billion shortfall. Excluding gold and energy, the current account surplus shrank to USD 1.37 billion from USD 2.46 billion in the same period last year.
2023-05-11
Turkey Current Account Deficit Widens in February
Turkey’s current account deficit widened to USD 8.78 billion in February 2023 from USD 5.31 billion in the corresponding month of the previous year and more than market expectations of USD 8.50 billion. It compared with a record current account gap of USD 10 billion in January. In February, there was a deterioration in the deficit for goods (USD 10.40 billion vs USD 6.29 billion in February 2022), with net non-monetary imports of gold reaching nearly USD 4 billion, and primary income (USD 0.82 billion vs USD 0.73 billion). Meanwhile, the surplus for services account rose to USD 2.33 billion (vs USD 1.76 billion), while the secondary income shifted to a surplus of USD 0.10 billion from a USD 0.04 billion shortfall. Excluding gold and energy, the current account showed a surplus of USD 0.83 billion, down from a surplus of USD 2 billion in the same period last year.
2023-04-10
Turkish Current Account Deficit Hits Record High
Turkey's current account deficit widened sharply to USD 9.85 billion in January 2023 from USD 6.89 billion in the same month last year and compared with market expectations of USD 10.0 billion. It was the largest current account gap since comparable records began in 1984, as the goods deficit increased 38 percent to USD 14.24 billion, mainly due to the sharp rise in gold imports and the surging cost of energy imports. Excluding gold and energy, the current account showed a surplus of USD 2.6 billion in January, compared with a surplus of USD 1.7 billion in the same month last year.
2023-03-13