The current account deficit in Turkey widened sharply to USD 4.06 billion in November of 2020 from USD 0.015 billion a year earlier and above market expectations of a USD 3.7 billion. The goods deficit rose to USD 3.84 billion from USD 0.94 billion a year earlier, while the services surplus fell to USD 0.56 billion from USD 2.01 billion, as the travel surplus went down to USD 0.58 billion from USD 1.55 billion. At the same time, the primary income deficit decreased to USD 0.84 billion from USD 1.17 billion in November of 2019 and the secondary income shrank slightly to USD 0.06 billion from USD 0.09 billion. The 12-month running cumulative gap rose to USD 37.97 billion, wider than the government's forecasts of a USD 24.4 billion deficit for 2020. source: Central Bank of the Republic of Turkey

Current Account in Turkey averaged -1331.48 USD Million from 1984 until 2020, reaching an all time high of 3803 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. Turkey Current Account - data, historical chart, forecasts and calendar of releases - was last updated on January of 2021.

Current Account in Turkey is expected to be -1630.00 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 -2200.00 in 12 months time. In the long-term, the Turkey Current Account is projected to trend around -2480.00 USD Million in 2022, according to our econometric models.

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Turkey Current Account

Actual Previous Highest Lowest Dates Unit Frequency
-4063.00 -340.00 3803.00 -9407.00 1984 - 2020 USD Million Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-10-12 07:00 AM Aug $-4.63B $-1.94B $-4.6B $-4.2B
2020-11-11 07:00 AM Sep $-2.364B $-4.316B $-2.7B $-3.2B
2020-12-11 07:00 AM Oct $-0.27B $-2.56B $-0.062B $-1.6B
2021-01-11 07:00 AM Nov $-4.06B $-0.34B $-3.7B $-3.4B
2021-02-12 07:00 AM Dec $-4.06B $-2.8B
2021-03-11 07:00 AM Jan
2021-04-12 07:00 AM Feb
2021-05-11 07:00 AM Mar


News Stream
Turkish Current Account Gap Larger than Estimated
The current account deficit in Turkey widened sharply to USD 4.06 billion in November of 2020 from USD 0.015 billion a year earlier and above market expectations of a USD 3.7 billion. The goods deficit rose to USD 3.84 billion from USD 0.94 billion a year earlier, while the services surplus fell to USD 0.56 billion from USD 2.01 billion, as the travel surplus went down to USD 0.58 billion from USD 1.55 billion. At the same time, the primary income deficit decreased to USD 0.84 billion from USD 1.17 billion in November of 2019 and the secondary income shrank slightly to USD 0.06 billion from USD 0.09 billion. The 12-month running cumulative gap rose to USD 37.97 billion, wider than the government's forecasts of a USD 24.4 billion deficit for 2020.
2021-01-11
Turkish Current Account Gap Larger than Expected
Turkey’s current account balance shifted to a USD 0.273 billion deficit in October 2020 from USD 2.924 billion surplus in the same month of the previous year and compared with market expectations of a USD 0.062 billion gap. The goods and services account surplus narrowed sharply to USD 0.309 billion from USD 3.901 billion a year earlier. On the other hand, the secondary income surplus declined to USD 0.031 billion from USD 0.124 billion a year earlier, while the primary income gap narrowed to USD 0.613 billion from USD 1.101 billion in October 2019.
2020-12-11
Turkish Current Account Swings to Deficit
Turkey’s current account balance shifted to a USD 2.364 billion deficit in September 2020, from USD 2.828 billion surplus in the same month of the previous year and compared with market expectations of a USD 2.7 billion gap. The goods and services account swung to a USD 2.017 billion shortfall from a USD 3.896 billion surplus a year earlier. On the other hand, the primary income gap narrowed to USD 0.544 billion from USD 1.159 billion in September 2019; and the secondary income surplus widened to USD 0.197 billion from USD 0.091 billion.
2020-11-11
Turkish Current Account Swings to Deficit in August
Turkey’s current account balance shifted to a USD 4.631 billion deficit in August 2020 from USD 3.314 billion in the same month of the previous year and matching market expectations. The goods and services account swung to a USD 4.168 billion shortfall from a USD 4.382 billion surplus a year earlier. On the other hand, the primary income gap narrowed to USD 0.570 billion from USD 1.159 billion in August 20119; and the secondary income surplus increased to USD 0.107 billion from USD 0.091 billion.
2020-10-12

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).