In September, the current account balance incurred a deficit of USD 2.7 billion. The figure was below both the USD 6.4 billion deficit recorded in the same month last year as well as market expectations of a USD 3.0 billion deficit. As a result of the monthly figure, the 12-month trailing current account deficit narrowed for the 11th consecutive month, falling from USD 59.5 billion in August to USD 55.8 billion in September (approximately equivalent to 7.1% of GDP), the lowest deficit recorded since February 2011. Exports expanded 16.2% in USD terms over the same month last year, well above the 11.8% increase recorded in August. Meanwhile, imports contracted 5.9%, which followed the 5.3% decline observed in August. As a result, the trade deficit reached USD 5.3 billion in September, down from the USD 8.4 billion deficit recorded in the same month last year.
Turkey Current Account
Current account continues to improve
November 15, 2012
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Note: Monthly and 12-month sum of current account balance in USD billion.
Source: Central Bank of the Republic of Turkey (CBRT).
Turkey Economic News
October 13, 2016
The current account balance recorded a USD 1.8 billion deficit in August (July: USD 2.7 billion deficit).
October 10, 2016
In August, industrial production expanded a calendar-adjusted 2.2% compared to the same month last year.
October 3, 2016
The Manufacturing Purchasing Managers’ Index (PMI), produced by the Istanbul Chamber of Industry (ICI) and IHS Markit, increased slightly to 48.3 in September from August’s 47.0, which had marked a multi-year low.
October 3, 2016
In September, consumer prices increased 0.18% over the previous month.
September 26, 2016
The Real Sector Confidence Index published by the Central Bank increased from August’s 103.6 to 106.5 in September.