Turkey: Current account deficit narrows in May
The current account posted a USD 1.2 billion deficit in May, narrowing from the USD 5.4 billion deficit booked in...
Merchandise Trade Balance in Turkey
The merchandise trade balance in Turkey averaged USD -51.0 billion in the decade to 2022. The 2022 reading was USD -89.6 billion. For more trade information, visit our dedicated page.
Turkey Trade Chart
Note: This chart displays Trade Balance (USD billion) for Turkey from 2020 to 2019.
Source: Macrobond.
Turkey Trade Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Merchandise Trade Balance (USD bn) | -16.8 | -37.9 | -29.3 | -89.6 | -86.9 |
Current account deficit narrows in May
The current account posted a USD 1.2 billion deficit in May, narrowing from the USD 5.4 billion deficit booked in April (May 2023: USD 7.8 billion deficit). Meanwhile, the 12-month trailing current account deficit improved, coming in at USD 25.2 billion in May (April: USD 31.7 billion deficit). The merchandise trade balance also improved from the previous month, recording a USD 4.2 billion deficit in May (April 2024: USD 7.7 billion deficit). Merchandise exports rose 9.8% annually in May (April: -1.7% year-on-year). Meanwhile, merchandise imports plunged 13.3% over the same month last year in May (April: +1.0% yoy).
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Turkish trade projections for the next ten years from a panel of 10 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable trade forecast available for Turkish trade.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Turkish trade projections.
Want to get access to the full dataset of Turkish trade forecasts? Send an email to info@focus-economics.com.
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