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.

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Turkey Current Account

Actual Previous Highest Lowest Dates Unit Frequency
-518.00 1558.00 2626.00 -9407.00 1984 - 2019 USD Million Monthly



Calendar GMT Actual Previous Consensus TEForecast
2019-10-11 07:00 AM Aug $2.6B $1.14B $2.775B $0.2B
2019-11-12 07:00 AM Sep $2.48B $2.7B $2B $1.9B
2019-12-11 07:00 AM Oct $1.549B $2.353B $1.65B $1.1B
2020-01-13 07:00 AM Nov $-0.518B $1.558B $-0.42B $-0.8B
2020-02-14 07:00 AM Dec $-0.518B $-1B


News Stream
2019-12-11
Turkish Current Account Surplus Narrows in October
Turkey’s current account surplus declined to USD 1.55 billion in October 2019 from USD 2.64 billion in the same month of the previous year, and below market expectations of a USD 1.65 billion surplus. This was the smallest current account surplus since July, as the goods account posted a USD 0.92 billion gap, swinging from a USD 0.92 billion surplus a year earlier. Meantime, the services account surplus rose to USD 3.42 billion from USD 3.06 billion in October last year and the secondary income surplus edged up to USD 0.13 billion from USD 0.11 billion. On the other hand, the primary income shortfall edged down to USD 1.08 billion from USD 1.16 billion.

2019-11-12
Turkish Current Account Surplus Beats Estimates
Turkey’s current account surplus rose to USD 2.48 billion in September 2019 from USD 1.88 billion in the same month of the previous year, beating market expectations of a USD 2 billion surplus. The services account surplus climbed to USD 4.32 billion from USD 3.63 billion, and the secondary income surplus edged up to USD 0.11 billion from USD 0.10 billion, while the goods deficit went down to USD 0.87 billion from USD 0.92 billion. Meantime, the primary income shortfall increased to USD 1.09 billion from USD 0.94 billion.

2019-10-11
Turkey Current Account Surplus Widens in August
Turkey’s current account surplus rose to USD 2.60 billion in August 2019 from USD 2.05 billion in the same month of the previous year, below market expectations of a USD 2.775 billion surplus. The goods and services surplus widened to USD 3.60 billion from USD 2.79 billion in August 2018, as the services surplus climbed to USD 5.22 billion from USD 4.37 billion and the goods deficit went up to USD 1.62 billion from USD 1.57 billion. Also, the secondary income surplus advanced to USD 0.10 billion from USD 0.03 billion while the primary income shortfall increased to USD 1.1 billion from USD 0.77 billion.

2019-09-13
Turkey Current Account Surplus Lower than Expected
Turkey posted a current account surplus of USD 1.16 billion in July of 2019, switching from a USD 2.18 billion deficit in the same month of the previous year and compared with market expectations of a USD 1.24 billion surplus. The goods and services account recorded a USD 1.75 billion surplus, swinging from a USD 1.63 billion gap in July of 2018, as the goods deficit narrowed to USD 2.52 billion from USD 4.95 billion and the services surplus widened to USD 4.28 billion from 3.32 billion. Meantime, the secondary income surplus rose to USD 0.14 billion from USD 0.07 billion while the primary income deficit went up to USD 0.73 billion from USD 0.62 billion.

2019-08-09
Turkey Current Account Gap Narrows in June
Turkey's current account deficit shrank to USD 0.55 billion in June 2019 from USD 3.02 billion in the same month of the previous year but larger than an expected USD 0.27 billion shortfall. The goods deficit narrowed to USD 2.60 billion from USD 4.42 billion a year earlier and the services surplus increased to USD 3.17 billion from USD 2.41 billion. Meantime, the primary income gap rose to USD 1.19 billion from USD 1.05 billion a year earlier while the secondary income deficit rose to USD 0.08 billion from USD 0.05 billion in June 2018. Considering the first six months of the year, the country's current account gap declined sharply to USD 3.26 billion from USD 31.05 billion in the same period of 2018.

2019-07-11
Turkey Current Account Swings to Surplus in May
Turkey posted a current account surplus of USD 0.15 billion in May 2019, compared to last year's USD 6.17 billion deficit and market expectations of a USD 0.30 billion surplus. The goods deficit narrowed sharply to USD 0.71 billion from USD 6.56 billion a year earlier while the services surplus increased to USD 2.30 billion from USD 1.71 billion. On the other hand, the primary income gap widened to USD 1.42 billion from USD 1.19 billion. Considering the first five months of the year, the current account deficit shrank to USD 3.14 billion from USD 28.04 billion in the same period of 2018.


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).

Turkey Trade Last Previous Highest Lowest Unit
Balance of Trade -2234.00 -1823.20 24.51 -10453.06 USD Million [+]
Current Account -518.00 1558.00 2626.00 -9407.00 USD Million [+]
Current Account to GDP -3.50 -5.60 1.90 -8.90 percent [+]
Imports 17736.75 17470.98 23245.30 15.00 USD Million [+]
Exports 15502.75 15647.78 15941.22 7.10 USD Million [+]
External Debt 433889.00 446860.00 466845.00 43911.00 USD Million [+]
Terms of Trade 104.56 103.64 147.63 93.96 points [+]
Capital Flows 2371.00 -1840.00 9186.00 -6811.00 USD Million [+]
Foreign Direct Investment 13200.00 10900.00 22046.00 1800.00 USD Million [+]
Remittances 13.00 17.00 574.00 11.00 USD Million [+]
Tourism Revenues 4402.00 5244.00 5244.00 79.00 USD Million [+]
Tourist Arrivals 2190622.00 4291574.00 6617380.00 213998.00 [+]
Gold Reserves 385.45 320.69 385.45 116.00 Tonnes [+]
Terrorism Index 6.53 7.04 7.52 4.62 [+]
Weapons Sales 364.00 245.00 364.00 3.00 USD Million [+]
Crude Oil Production 60.00 60.00 72.00 38.00 BBL/D/1K [+]