Turkey's current account deficit widened sharply to USD 4.92 billion in March 2020 from USD 0.12 billion in the same month of the previous year and compared to market expectations of USD 4.0 billion. The goods gap increased to USD 4.29 billion from USD 0.74 billion a year ago, while the services surplus fell to USD 0.74 billion from USD 1.65 billion. In addition, the secondary income account posted a USD 0.20 billion deficit, compared to USD 0.13 surplus last year, while the primary income deficit was little-changed at USD 1.17 billion.

Current Account in Turkey averaged -1286.31 USD Million from 1984 until 2020, reaching an all time high of 3903 USD Million in October of 2018 and a record low of -9407 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 June of 2020. source: Central Bank of the Republic of Turkey

Current Account in Turkey is expected to be -3400.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Turkey to stand at -1200.00 in 12 months time. In the long-term, the Turkey Current Account is projected to trend around -2200.00 USD Million in 2021 and -2480.00 USD Million in 2022, according to our econometric models.

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Turkey Current Account

Actual Previous Highest Lowest Dates Unit Frequency
-4923.00 -1154.00 3903.00 -9407.00 1984 - 2020 USD Million Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-02-14 07:00 AM Dec $-2.8B $-0.40B $-3.05B $-2.3B
2020-03-11 07:00 AM Jan $-1.8B $-2.2B $-2.5B $-2.7B
2020-04-13 07:00 AM Feb $-1.23B $-1.61B $-1B $-0.9B
2020-05-13 07:00 AM Mar $-4.92B $-1.15B $-4B $-3.2B
2020-06-12 07:00 AM Apr $-4.92B $-2.3B
2020-07-13 07:00 AM May $-2.7B
2020-08-14 07:00 AM Jun $-3.4B
2020-09-11 07:00 AM Jul $0.8B


News Stream
Turkish Current Account Deficit Larger than Expected
Turkey's current account deficit widened sharply to USD 4.92 billion in March 2020 from USD 0.12 billion in the same month of the previous year and compared to market expectations of USD 4.0 billion. The goods gap increased to USD 4.29 billion from USD 0.74 billion a year ago, while the services surplus fell to USD 0.74 billion from USD 1.65 billion. In addition, the secondary income account posted a USD 0.20 billion deficit, compared to USD 0.13 billion surplus last year, while the primary income deficit was little-changed at USD 1.17 billion.
2020-05-13
Turkey Current Account Surplus Widens Sharply in February
Turkey’s current account deficit widened to USD 1.23 billion in February 2020 from USD 0.12 billion in the corresponding month of the previous year and compared with market expectations of a USD 1 billion shortfall. The goods gap increased to USD 1.90 billion from USD 0.73 billion a year earlier and the primary income shortfall rose to USD 0.73 billion from USD 0.51 billion. Also, the secondary income deficit went up to USD 0.09 billion from USD 0.06 billion. On the other hand, the services surplus went up to USD 1.49 billion from USD 1.18 billion in February 2019.
2020-04-13
Turkish Current Account Gap Widens in January
Turkey’s current account deficit increased sharply to USD 1.80 billion in January 2020 from USD 0.28 billion in the same month of the previous year, but below market expectations of a USD 2.50 billion gap. The goods gap widened to USD 3.25 billion from USD 1.25 billion a year earlier, while the primary income shortfall declined to USD 0.34 billion from USD 0.63 billion. On the other hand, the services surplus went up to USD 1.59 billion from USD 1.51 billion and the secondary income surplus rose to USD 0.20 billion from USD 0.10 billion.
2020-03-11
Turkish Current Account Gap Largest in 1-1/2 Years
Turkey’s current account deficit increased to USD 2.80 billion in December 2019 from USD 1.07 billion in the same month of the previous year, but below market expectations of a USD 3.05 billion gap. This was the largest current account deficit since June 2018, as the goods account gap widened to USD 3.40 billion from USD 1.31 billion a year earlier, while the primary income shortfall increased to USD 1.09 billion from USD 0.99 billion. On the other hand, the services surplus rose to USD 1.40 billion from USD 1.11 billion and the secondary income surplus went up to USD 0.29 billion from USD 0.13 billion. Considering 2019 full year, the country posted a current account surplus of USD 1.67 billion, its first since 2001, amid high import prices and weak domestic demand following the 2018 currency crisis.
2020-02-14

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).