Turkey posted a current account deficit of USD 0.52 billion in November 2019, compared to a USD 1.04 billion surplus in the same month of the previous year and market expectations of a USD 0.42 billion gap. The goods account recorded a USD 1.11 billion deficit, compared to a USD 0.41 billion surplus a year earlier, while the services surplus edged down to USD 1.60 billion from USD 1.67 billion. In addition, the secondary income surplus declined to USD 0.13 billion from USD 0.22 billion, while the primary income shortfall narrowed to USD 1.14 billion from USD 1.26 billion. Current Account in Turkey averaged -1376.30 USD Million from 1984 until 2019, reaching an all time high of 2626 USD Million in October of 2018 and a record low of -9407 USD Million in March of 2011. source: Central Bank of the Republic of Turkey
Current Account in Turkey is expected to be -1200.00 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 2020, according to our econometric models.