Turkey Current Account Deficit Largest Since 2023

Turkey's current account deficit widened sharply to $9.7 billion in March 2026 from $4.9 billion in the same month of the previous year. It marked the largest current account shortfall since January 2023, as the goods account deficit almost doubled to $9.5 billion from $4.9 billion in March 2025, while the services account surplus slightly fell to $2.6 billion from $2.7 billion. Moreover, the secondary income deficit increased significantly to $0.2 billion from $0.009 billion. In contrast, the primary income shortfall slightly decreased to $2.5 billion in March 2026 from $2.7 billion a year earlier. Excluding gold and energy, the current account deficit reached $3.9 billion. Over the first quarter, the country recorded a current account shortfall of $23.7 billion, higher than $14.1 billion in the corresponding period a year earlier.

Turkey's current account deficit widened to $7.50 billion in February 2026 from $5.22 billion in the same month last year, in line with market forecasts. This marked the largest deficit since April 2025, as the goods account deficit rose to $7.48 billion from $5.48 billion in February 2025, while the services account surplus narrowed to $2.01 billion from $2.27 billion. Additionally, the secondary income account recorded a deficit of $0.18 billion, swinging from a $0.01 billion surplus last year. Meanwhile, the primary income gap decreased to $1.86 billion from $2.02 billion. Excluding gold and energy, the current account posted a $1.46 billion shortfall in February 2026, shifting from a $1.35 billion surplus in the same month last year. Over the first two months of the year, the country recorded a current account deficit of $14.54 billion, higher than $9.25 billion in the corresponding period a year earlier.

Turkey's current account deficit widened to $6.81 billion in January 2026 from $4.03 billion in the same month of last year. The goods account deficit rose to $6.97 billion from $5.55 billion in January 2025, while the services account surplus narrowed to $2.64 billion from $3.04 billion. At the same time, the primary income gap increased to $2.17 billion from $1.36 billion, and the secondary income surplus grew to $0.31 billion from $0.15 billion last year. Excluding gold and energy, the current account deficit stood at $1.23 billion in January 2026, shifting from a $2.16 billion surplus in the same month of the previous year.