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.


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Turkey Current Account

Actual Previous Highest Lowest Dates Unit Frequency
-2798.00 -365.00 3043.00 -9407.00 1984 - 2019 USD Million Monthly


Calendar GMT Actual Previous Consensus TEForecast
2019-11-12 07:00 AM Sep $2.48B $2.7B $2B $1.9B
2019-12-11 07:00 AM Oct $1.549B $2.353B $1.65B $1.1B
2020-01-13 07:00 AM Nov $-0.518B $1.558B $-0.42B $-0.8B
2020-02-14 07:00 AM Dec $-2.8B $-0.40B $-3.05B $-2.3B
2020-03-11 07:00 AM Jan $-2.8B $-0.7B
2020-04-13 07:00 AM Feb $-0.4B
2020-05-13 07:00 AM Mar $-1.2B
2020-06-12 07:00 AM Apr $-1.3B


News Stream
Turkish Current Account Gap Largest in 1-1/2 Years
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.
2020-02-14
Turkish Current Account Swings to Deficit
Turkey posted a current account deficit of USD 0.52 billion in November 2019, compared to a USD 1.04 billion surplus in the same month of the previous year and market expectations of a USD 0.42 billion gap. The goods account recorded a USD 1.11 billion deficit, compared to a USD 0.41 billion surplus a year earlier, while the services surplus edged down to USD 1.60 billion from USD 1.67 billion. In addition, the secondary income surplus declined to USD 0.13 billion from USD 0.22 billion, while the primary income shortfall narrowed to USD 1.14 billion from USD 1.26 billion.
2020-01-13
Turkish Current Account Surplus Narrows in October
Turkey’s current account surplus declined to USD 1.55 billion in October 2019 from USD 2.64 billion in the same month of the previous year, and below market expectations of a USD 1.65 billion surplus. This was the smallest current account surplus since July, as the goods account posted a USD 0.92 billion gap, swinging from a USD 0.92 billion surplus a year earlier. Meantime, the services account surplus rose to USD 3.42 billion from USD 3.06 billion in October last year and the secondary income surplus edged up to USD 0.13 billion from USD 0.11 billion. On the other hand, the primary income shortfall edged down to USD 1.08 billion from USD 1.16 billion.
2019-12-11
Turkish Current Account Surplus Beats Estimates
Turkey’s current account surplus rose to USD 2.48 billion in September 2019 from USD 1.88 billion in the same month of the previous year, beating market expectations of a USD 2 billion surplus. The services account surplus climbed to USD 4.32 billion from USD 3.63 billion, and the secondary income surplus edged up to USD 0.11 billion from USD 0.10 billion, while the goods deficit went down to USD 0.87 billion from USD 0.92 billion. Meantime, the primary income shortfall increased to USD 1.09 billion from USD 0.94 billion.
2019-11-12

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).