Turkey posted a current account deficit of USD 1.817 billion in July of 2020, compared to a USD 1.990 billion surplus in the same month of the previous year and market expectations of a USD 2 billion gap. The goods and services account recorded a USD 1.565 billion gap, switching from a USD 2.627 billion surplus a year earlier. Meantime, the primary income shortfall narrowed to USD 0.332 billion from USD 0.772 billion and the secondary income surplus went down to USD 0.080 billion from USD 0.135 billion.

Current Account in Turkey averaged -1306.14 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 September of 2020. source: Central Bank of the Republic of Turkey

Current Account in Turkey is expected to be -2200.00 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 -1780.00 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
-1817.00 -2927.00 3903.00 -9407.00 1984 - 2020 USD Million Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-06-12 07:00 AM Apr $-5.06B $-4.84B $-4.5B $-2.3B
2020-07-13 07:00 AM May $-3.76B $-5.06B $-4B $-3.6B
2020-08-14 07:00 AM Jun $-2.93B $-3.78B $-2.825B $-3.4B
2020-09-11 07:00 AM Jul $-1.817B $-2.927B $-2B $-2B
2020-10-12 07:00 AM Aug $-1.817B $1.5B
2020-11-11 07:00 AM Sep $-2.2B
2020-12-11 07:00 AM Oct $-1.1B


News Stream
Turkish Current Account Swings to Deficit
Turkey posted a current account deficit of USD 1.817 billion in July of 2020, compared to a USD 1.990 billion surplus in the same month of the previous year and market expectations of a USD 2 billion gap. The goods and services account recorded a USD 1.565 billion gap, switching from a USD 2.627 billion surplus a year earlier. Meantime, the primary income shortfall narrowed to USD 0.332 billion from USD 0.772 billion and the secondary income surplus went down to USD 0.080 billion from USD 0.135 billion.
2020-09-11
Turkish Current Account Deficit Larger than Expected
Turkey' current account deficit widened to EUR 2.9 billion in June 2020 from EUR 0.1 billion in the same month last year and compared with market expectations of EUR 2.8 billion. There was a net outflow of USD 294 million in the services account and a net outflow of USD 23 million in the secondary income account.
2020-08-14
Turkey Current Account Swings to Deficit in May
Turkey's current account switched to a USD 3.76 billion deficit in May of 2020 from a USD 1.07 billion surplus in the same month of the previous year, mainly due to the coronavirus. It compares with market expectations of a USD 4 billion gap. The goods gap widened sharply to USD 2.73 billion from USD 0.34 billion and the services account recorded a USD 0.03 billion gap compared to a USD 2.9 billion surplus. In contrast, both the primary income (USD 0.920 million from USD 1.42 billion) and the secondary income gap (USD 0.028 billion from USD 0.064 billion) narrowed.
2020-07-13
Turkey Posts Widest Current Account Gap since 2018
Turkey's current account deficit widened sharply to USD 5.06 billion in April of 2020 from USD 0.47 billion in the same month of the previous year and compared with market expectations of USD 4.5 billion. It was the largest current account gap since May of 2018, as the global pandemic hit exports and tourism revenues. Accordingly, the goods shortfall rose to USD 3.81 billion from USD 1.53 billion a year ago, with exports and imports tumbling 42.2 percent and 25 percent, respectively. The services account shifted to a deficit of USD 0.24 billion compared to a surplus of USD 2.33 billion in April of 2019, amid a steep decline in tourism revenues (-100 percent). Meanwhile, the primary income deficit fell to USD 1.09 billion from USD 1.26 billion; and the secondary income account swang to a surplus of USD 0.07 billion compared to a deficit of USD 0.01 billion a year ago.
2020-06-12

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).