In July, the current account balance incurred a deficit of USD 5.3 billion, the smallest deficit in nine months. The result was down from the revised USD 7.7 billion deficit recorded in June but broadly in line with market expectations. Despite the moderation in monthly figures, the current account deficit over the last 12 months continued to widen, reaching USD 74.7 billion in July (approximately 9.4% of GDP). Imports remain buoyant despite the efforts of Turkish authorities to rebalance the economic expansion towards domestic sources. Imports rose 29.9% over July 2010 in USD terms (June: +41.7% year-on-year) while exports expanded 24.2% over the same period the previous year (June: +19.0% yoy). As a result, the trade deficit widened to a record USD 99.5 billion in the 12-month period to July 2011.
Turkey Current Account
Current account deficit dips to nine-month low in July
September 12, 2011
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Turkey Economic News
October 21, 2016
The consumer confidence index, published by the Statistical Institute in cooperation with the Central Bank, decreased slightly from 74.3 in September to 74.0 in October.
October 20, 2016
At its 20 October monetary policy meeting, the Central Bank of the Republic of Turkey (CBRT) decided to keep the marginal funding rate unchanged at 8.25%.
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.