Turkey posted a current account deficit of USD 2.966 billion in September 2022, compared to a surplus of USD 2.72 billion in the same period a year earlier and above market estimates of a USD 2.85 billion gap. The deficit in the goods account sharply rose to USD 8.097 billion from USD 1.126 billion amid rising energy prices and lira weakness, along with the secondary income, which also reported a deficit of USD 0.05 billion from a USD 0.45 billion surplus. On the other hand, the services surplus widened to USD 6.083 billion from USD 4.759 billion, supported by the gains in transport and travel sectors; whereas the primary income gap narrowed by USD 12 million to USD 0.947 billion. source: Central Bank of the Republic of Turkey

Current Account in Turkey averaged -1371.68 USD Million from 1984 until 2022, reaching an all time high of 4101.00 USD Million in October of 2021 and a record low of -9407.00 USD Million in March of 2011. 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 December of 2022.

Current Account in Turkey is expected to be -2480.00 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 -3650.00 USD Million in 2023 and -3200.00 USD Million in 2024, according to our econometric models.

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Turkey Current Account



Calendar GMT Actual Previous Consensus TEForecast
2022-10-11 07:00 AM Aug $-3.11B $-4.09B $-3.15B $-3.4B
2022-11-11 07:00 AM Sep $-2.97B $-3.112B $-2.85B $-3.1B
2022-12-12 07:00 AM Oct $-2.97B $-2.6B


Related Last Previous Unit Reference
Current Account -2966.00 -2738.00 USD Million Sep 2022
Current Account to GDP -1.70 -5.00 percent of GDP Dec 2021
Terms of Trade 71.24 72.99 points Sep 2022
Foreign Direct Investment 420.00 342.00 USD Million Sep 2022
Capital Flows -357.00 817.00 USD Million Sep 2022
Remittances 14.00 16.00 USD Million Sep 2022

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
-2966.00 -2738.00 4101.00 -9407.00 1984 - 2022 USD Million Monthly

News Stream
Turkey Current Account Swings to Deficit
Turkey posted a current account deficit of USD 2.966 billion in September 2022, compared to a surplus of USD 2.72 billion in the same period a year earlier and above market estimates of a USD 2.85 billion gap. The deficit in the goods account sharply rose to USD 8.097 billion from USD 1.126 billion amid rising energy prices and lira weakness, along with the secondary income, which also reported a deficit of USD 0.05 billion from a USD 0.45 billion surplus. On the other hand, the services surplus widened to USD 6.083 billion from USD 4.759 billion, supported by the gains in transport and travel sectors; whereas the primary income gap narrowed by USD 12 million to USD 0.947 billion.
2022-11-11
Turkey Current Account Gap Continues to Widen
Turkey posted a current account deficit of USD 3.11 billion in August of 2022, compared to a deficit of USD 1.1 billion in the corresponding period of the previous year, and slightly below market expectations of a USD 3.15 billion gap. It marks a tenth consecutive month of current account deficits, widening the gap for the first eight months of this year to USD 39.7 billion. The goods account deficit rose to USD 9.70 billion from USD 2.88 billion in the previous year while the services account surplus increased to USD 7.24 billion from USD 4.72 billion due to the travel item. Meanwhile, the primary income gap narrowed to USD 0.685 billion from USD 0.84 billion and the secondary income surplus fell to USD 0.037 billion from USD 0.075 billion.
2022-10-11
Turkey Current Account Gap Widens More than Expected in July
Turkey posted a current account deficit of USD 4.010 billion in July of 2022, compared to a deficit of USD 0.310 billion in the corresponding period of the previous year, and above market expectations of a USD 3.6 billion gap. The goods account deficit rose to USD 9.308 billion from USD 3.146 billion in the previous year while the services account surplus increased to USD 5.78 billion from USD 3.51 billion due to the travel item. Meanwhile, the primary income gap narrowed to USD 0.559 billion from USD 0.74 billion and the secondary income surplus rose to USD 0.079 billion from USD 0.066 billion.
2022-09-12