Turkey Current Account Surplus Narrows in September

Turkey's current account deficit widened to $4.00 billion in November 2025 from $2.76 billion in the same month of the previous year. This marked the largest deficit since April, as the goods account deficit widened to $6.39 billion from $5.24 billion in November 2024, while the primary income gap increased to $1.56 billion from $1.44 billion. At the same time, the secondary income surplus edged down to $0.020 billion from $0.021 billion last year. Meanwhile, the services account surplus rose to $3.93 billion from $3.90 billion a year earlier. Excluding gold and energy, the current account surplus stood at $2.13 million. Over the first eleven months of the year, the country recorded a current account deficit of $18.51 billion, sharply higher than the $5.70 billion shortfall in the corresponding period a year earlier.

Turkey’s current account surplus narrowed significantly to $0.46 billion in October 2025 from $2.23 billion in the corresponding month last year, slightly exceeding market expectations of a $0.4 billion surplus. The goods account shortfall increased sharply to $5.96 billion from $3.50 billion a year earlier. At the same time, the secondary income deficit widened to $0.04 billion from $0.02 billion. On the other hand, the services account surplus rose to $7.59 billion from $6.90 billion in October 2024, while the primary income deficit narrowed to $1.13 billion from $1.16 billion. For the January-October period, the country recorded a current account deficit of $14.54 billion, notably higher than the $2.93 billion shortfall in the same month of the previous year.

Turkey’s current account surplus narrowed to $1.11 billion in September 2025 from $2.83 billion in the same month of the previous year, slightly exceeding market expectations of a $1 billion surplus. The goods account shortfall increased significantly to $5.36 billion from $3.11 billion a year earlier, while the primary income deficit widened to $1.33 billion from $1.26 billion. On the other hand, the secondary income shifted to a surplus of $0.09 billion from a deficit of $0.02 billion in September 2024, while the services account surplus rose to $7.71 billion from $7.21 billion. For the first nine months of the year, the country recorded a current account deficit of $14.89 billion, notably higher than the $5.16 billion shortfall in the corresponding period last year.