Turkey posted a current account surplus of $1.88 billion in September 2023, a significant shift from the $3.02 billion deficit recorded in the same month last year, exceeding market expectations of a $1.37 billion surplus. It marked the second current account surplus in nearly two years, after June’s $0.72 billion. The goods deficit narrowed to $3.66 billion from $8.04 billion a year earlier, and the primary income gap decreased from $0.97 billion to $0.85 billion. Concurrently, the services surplus increased to $6.25 billion from $5.98 billion, while the secondary income logged a $0.13 billion surplus after almost stabilizing in September 2022. Excluding gold and energy, the current account surplus rose to $7.12 billion from $6.73 billion in the corresponding period of the previous year. source: Central Bank of the Republic of Turkey

Turkey recorded a Current Account surplus of 1876 USD Million in September of 2023. Current Account in Turkey averaged -1413.99 USD Million from 1984 until 2023, reaching an all time high of 4104.00 USD Million in October of 2021 and a record low of -10494.00 USD Million in January of 2023. 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 November of 2023.

Turkey recorded a Current Account surplus of 1876 USD Million in September of 2023. Current Account in Turkey is expected to be -4750.00 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 -3470.00 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 Reference Actual Previous Consensus TEForecast
2023-10-11 07:00 AM
Current Account
Aug $-0.619B $-5.525B $-0.525B $-0.7B
2023-11-13 07:00 AM
Current Account
Sep $1.876B $-0.357B $1.37B $1.4B
2023-12-11 07:00 AM
Current Account
Oct $1.876B $1.92B


Related Last Unit Reference
Balance of Trade -6721.00 USD Million Oct 2023
Current Account 1876.00 USD Million Sep 2023
Current Account to GDP -5.30 percent of GDP Dec 2022
Exports 22900.00 USD Million Oct 2023
Imports 29594.00 USD Million Oct 2023
Terms of Trade 86.26 points Sep 2023
Capital Flows 2038.00 USD Million Sep 2023
Foreign Direct Investment 189.00 USD Million Sep 2023
Remittances 15.00 USD Million Sep 2023

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
1876.00 -357.00 4104.00 -10494.00 1984 - 2023 USD Million Monthly

News Stream
Turkey Current Account Shifts to Surplus
Turkey posted a current account surplus of $1.88 billion in September 2023, a significant shift from the $3.02 billion deficit recorded in the same month last year, exceeding market expectations of a $1.37 billion surplus. It marked the second current account surplus in nearly two years, after June’s $0.72 billion. The goods deficit narrowed to $3.66 billion from $8.04 billion a year earlier, and the primary income gap decreased from $0.97 billion to $0.85 billion. Concurrently, the services surplus increased to $6.25 billion from $5.98 billion, while the secondary income logged a $0.13 billion surplus after almost stabilizing in September 2022. Excluding gold and energy, the current account surplus rose to $7.12 billion from $6.73 billion in the corresponding period of the previous year.
2023-11-13
Turkey Current Account Deficit Narrows in August
Turkey’s current account deficit shrank to $0.62 billion in August 2023 from $2.75 billion in the corresponding month of the previous year, more than market expectations of $0.53 billion. The goods deficit narrowed to $7.1 billion from $9.66 billion a year earlier, and the secondary income surplus increased to $0.14 billion from $0.05 billion. Meanwhile, the services surplus decreased to $7.27 billion from $7.53 billion, whereas the primary income gap rose to $0.92 billion vs $0.67 billion. Excluding gold and energy, the current account surplus fell to $6.15 billion from $6.64 billion a year ago.
2023-10-11
Turkey Current Account Deficit Widens
Turkey’s current account deficit widened to $5.47 billion in July 2023 from $3.46 billion in the same month last year and more than market forecasts of $4.50 billion. The deficit for the goods account increased to $10.48 billion from $9.26 billion, and the primary income to $0.90 billion from $0.51 billion. In addition, the secondary income shifted to a $0.09 billion gap from a surplus of $0.06 billion, while the services surplus narrowed to $6.0 billion from $6.25 billion. Excluding gold and energy, the current account surplus narrowed to $0.72 billion, compared to a $4.31 billion recorded in the corresponding period a year earlier.
2023-09-11