Turkey’s current account deficit increased to USD 2.80 billion in December 2019 from USD 1.07 billion in the same month of the previous year, but below market expectations of a USD 3.05 billion gap. This was the largest current account deficit since June 2018, as the goods account gap widened to USD 3.40 billion from USD 1.31 billion a year earlier, while the primary income shortfall increased to USD 1.09 billion from USD 0.99 billion. On the other hand, the services surplus rose to USD 1.40 billion from USD 1.11 billion and the secondary income surplus went up to USD 0.29 billion from USD 0.13 billion. Considering 2019 full year, the country posted a current account surplus of USD 1.67 billion, its first since 2001, amid high import prices and weak domestic demand following the 2018 currency crisis.
Current Account in Turkey averaged -1377.04 USD Million from 1984 until 2019, reaching an all time high of 3043 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. 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 2021, according to our econometric models.