Turkey recorded a Current Account deficit of 5.10 percent of the country's Gross Domestic Product in 2020. source: Central Bank of the Republic of Turkey

Current Account to GDP in Turkey averaged -2.40 percent from 1980 until 2020, reaching an all time high of 1.90 percent in 2001 and a record low of -8.90 percent in 2011. This page provides - Turkey Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. Turkey Current Account to GDP - values, historical data and charts - was last updated on September of 2021.

Current Account to GDP in Turkey is expected to reach -7.40 percent of GDP by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the Turkey Current Account to GDP is projected to trend around -3.20 percent of GDP in 2022 and -3.00 percent of GDP in 2023, according to our econometric models.

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Turkey Current Account to GDP

Actual Previous Highest Lowest Dates Unit Frequency
-5.10 0.90 1.90 -8.90 1980 - 2020 percent of GDP Yearly

Turkey Trade Last Previous Highest Lowest Unit
Balance of Trade -4277.55 -2875.93 24.51 -10453.06 USD Million [+]
Current Account -683.00 -1122.00 3778.00 -9407.00 USD Million [+]
Current Account to GDP -5.10 0.90 1.90 -8.90 percent of GDP [+]
Imports 20692.65 22627.65 23626.37 15.00 USD Million [+]
Exports 16415.10 19751.72 19751.72 7.10 USD Million [+]
External Debt 448393.00 450056.00 467672.00 43911.00 USD Million [+]
Terms of Trade 91.58 91.57 147.63 90.96 points [+]
Capital Flows -4903.00 -7191.00 7529.00 -9578.00 USD Million [+]
Foreign Direct Investment 1036.00 460.00 6571.00 46.00 USD Million [+]
Remittances 11.00 13.00 574.00 8.00 USD Million [+]
Tourism Revenues 3004.00 2452.00 14031.00 294.00 USD Million [+]
Tourist Arrivals 3982168.00 4360952.00 6617380.00 24238.00 Persons [+]
Gold Reserves 407.60 512.60 583.30 116.04 Tonnes [+]
Weapons Sales 141.00 240.00 264.00 3.00 SIPRI TIV Million [+]
Terrorism Index 6.11 6.53 7.52 4.62 [+]
Crude Oil Production 66.00 66.00 72.00 38.00 BBL/D/1K [+]


Turkey Current Account to GDP
The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.