Turkey’s current account deficit narrowed to $4.54 billion in March 2024 from $5.25 billion in the corresponding month of the previous year. The goods shortfall declined to $5.19 billion from $6.37 billion a year earlier, while the primary income gap rose to $1.6 billion from $1.35 billion. Meanwhile, the secondary income surplus narrowed sharply to $0.01 billion in March from $0.08 billion and the services surplus edged down to $2.24 billion from $2.4 billion. Excluding gold and energy, the current account surplus increased to $0.8 billion from $0.6 billion in the same month of the previous year. source: Central Bank of the Republic of Turkey

Turkey recorded a Current Account deficit of 4544 USD Million in March of 2024. Current Account in Turkey averaged -1331.38 USD Million from 1984 until 2024, reaching an all time high of 5095.00 USD Million in August of 2019 and a record low of -10245.00 USD Million in January of 2023. 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 May of 2024.

Turkey recorded a Current Account deficit of 4544 USD Million in March of 2024. Current Account in Turkey is expected to be -4500.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Turkey Current Account is projected to trend around -3200.00 USD Million in 2025, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-04-17 07:00 AM
Current Account
Feb $-3.27B $-2.52B $-2.3B
2024-05-13 07:00 AM
Current Account
Mar $-4.544B $-3.644B $ -4.4B
2024-06-10 07:00 AM
Current Account
Apr $-4.544B $-4.9B


Related Last Previous Unit Reference
Balance of Trade -9900.00 -7520.00 USD Million Apr 2024
Capital Flows -14127.00 -8515.00 USD Million Mar 2024
Current Account -4544.00 -3644.00 USD Million Mar 2024
Current Account to GDP -5.40 -0.90 percent of GDP Dec 2022
Exports 19300.00 22570.92 USD Million Apr 2024
Foreign Direct Investment 602.00 217.00 USD Million Mar 2024
Imports 29171.00 29911.72 USD Million Apr 2024
Remittances 6.00 6.00 USD Million Mar 2024
Terms of Trade 87.21 86.74 points Mar 2024

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).
Actual Previous Highest Lowest Dates Unit Frequency
-4544.00 -3644.00 5095.00 -10245.00 1984 - 2024 USD Million Monthly


News Stream
Turkey Current Account Gap Narrows in March
Turkey’s current account deficit narrowed to $4.54 billion in March 2024 from $5.25 billion in the corresponding month of the previous year. The goods shortfall declined to $5.19 billion from $6.37 billion a year earlier, while the primary income gap rose to $1.6 billion from $1.35 billion. Meanwhile, the secondary income surplus narrowed sharply to $0.01 billion in March from $0.08 billion and the services surplus edged down to $2.24 billion from $2.4 billion. Excluding gold and energy, the current account surplus increased to $0.8 billion from $0.6 billion in the same month of the previous year.
2024-05-13
Turkey Current Account Gap Narrows Sharply
Turkey’s current account deficit narrowed sharply to $3.27 billion in February 2024 from $9.04 billion in the same month of the previous year. The goods shortfall declined broadly to $4.75 billion from $10.53 billion a year earlier, while the surplus for services income edged up to $2.38 billion from $2.16 billion. On the other hand, the primary income deficit ticked up to $0.85 from $0.83 billion, and the secondary income shifted to a gap of $0.05 billion from a surplus of $0.16 billion. Excluding gold and energy, the current account surplus widened to $2.11 billion, rising significantly compared to $0.57 billion in the corresponding period last year.
2024-04-17
Turkey Current Account Deficit Narrows Sharply in January
Turkey’s current account deficit narrowed sharply to $2.56 billion in January 2024 from $10.4 billion in the corresponding month of the previous year, below market forecasts of a $2.8 billion shortfall. The goods deficit decreased broadly to $4.45 billion from $12.63 billion a year earlier while the primary income gap rose to $0.86 billion from $0.39 billion. Meanwhile, the secondary income surplus narrowed sharply to $0.04 billion in January from $0.23 billion a year earlier and the services surplus edged down to $2.79 billion from $2.82 billion. Excluding gold and energy, the current account surplus increased to $3.60 billion from $2.02 billion in the same month of the previous year.
2024-03-12