Turkey recorded a Current Account deficit of 5.40 percent of the country's Gross Domestic Product in 2022. Current Account to GDP in Turkey averaged -2.45 percent of GDP from 1980 until 2022, reaching an all time high of 1.90 percent of GDP in 2001 and a record low of -9.00 percent of GDP in 2011. source: Central Bank of the Republic of Turkey

Current Account to GDP in Turkey is expected to reach -3.10 percent of GDP by the end of 2024, according to Trading Economics global macro models and analysts expectations. In the long-term, the Turkey Current Account to GDP is projected to trend around -2.80 percent of GDP in 2025 and -2.50 percent of GDP in 2026, according to our econometric models.

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Turkey Current Account to GDP

Related Last Previous Unit Reference
Current Account -2091.00 -2774.00 USD Million Dec 2023
Current Account to GDP -5.40 -0.90 percent of GDP Dec 2022
Terms of Trade 87.04 86.27 points Dec 2023
Foreign Direct Investment 815.00 642.00 USD Million Dec 2023
Capital Flows -3190.00 -3787.00 USD Million Dec 2023
Remittances 7.00 8.00 USD Million Dec 2023

Turkey Current Account to GDP
The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.
Actual Previous Highest Lowest Dates Unit Frequency
-5.40 -0.90 1.90 -9.00 1980 - 2022 percent of GDP Yearly