Turkey’s current account deficit widened to USD 3.7 billion in November of 2022 from USD 2.1 billion in the corresponding period of the previous year, compared to market expectations of a USD 4.1 billion gap. The goods account recorded a deficit of USD 7.12 billions, widening from a USD 3.62 billion in the previous year while the secondary income account swung to a surplus of USD 0.13 billion from a USD 0.106 billion gap. On the other hand, the services surplus widened to USD 3.68 billion from USD 2.52 billion due to the travel item and the primary account gap narrowed to USD 0.24 billion from USD 0.89 billion. source: Central Bank of the Republic of Turkey

Current Account in Turkey averaged -1374.02 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 February of 2023.

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 2024 and -3200.00 USD Million in 2025, according to our econometric models.

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Turkey Current Account



Calendar GMT Actual Previous Consensus TEForecast
2022-12-12 07:00 AM Oct $-0.359B $-2.88B $-1.616B $-1.8B
2023-01-11 07:00 AM Nov $-3.666B $-0.352B $-4.1B $-3.8B
2023-02-13 07:00 AM Dec $-3.666B $ -2.5B


Related Last Previous Unit Reference
Balance of Trade -14300.00 -9701.29 USD Million Jan 2023
Current Account -3666.00 -352.00 USD Million Nov 2022
Current Account to GDP -1.70 -5.00 percent of GDP Dec 2021
Imports 33700.00 33300.00 USD Million Jan 2023
Exports 19400.00 22920.00 USD Million Jan 2023
Terms of Trade 78.82 74.41 points Nov 2022
Capital Flows -2769.00 779.00 USD Million Nov 2022
Foreign Direct Investment 949.00 432.00 USD Million Nov 2022
Remittances 13.00 9.00 USD Million Nov 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
-3666.00 -352.00 4101.00 -9407.00 1984 - 2022 USD Million Monthly

News Stream
Turkey Current Account Gap Widens Less than Expected in November
Turkey’s current account deficit widened to USD 3.7 billion in November of 2022 from USD 2.1 billion in the corresponding period of the previous year, compared to market expectations of a USD 4.1 billion gap. The goods account recorded a deficit of USD 7.12 billion, expanding from USD 3.62 billion in the previous year, while the secondary income account swung to a surplus of USD 0.13 billion from a USD 0.106 billion gap. On the other hand, the services surplus rose to USD 3.68 billion from USD 2.52 billion due to the travel share. The primary account gap narrowed to USD 0.24 billion from USD 0.89 billion.
2023-01-11
Turkey Current Account Gap Widens Less than Expected in October
Turkey posted a current account deficit of USD 0.359 billion in October 2022, compared to a surplus of USD 4.1 billion in the same period a year earlier and below market estimates of a USD 1.6 billion gap. The deficit in the goods account sharply rose to USD 6.463 billion from USD 0.50 billion while the services account surplus increased to USD 6.702 billion from USD 4.943 billion due to the travel item. Meanwhile, the primary income gap narrowed to USD 0.652 billion from USD 0.905 billion and the secondary income surplus fell to USD 0.54 billion from USD 0.115 billion.
2022-12-12
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