In the broadest terms, Balance of Payments is a statistical report prepared to show the systematic records of economic transactions between residents of a country with residents of another country (non-residents) over a certain period of time. The international standards regarding the compilation of the balance of payments statistics are defined in the Balance of Payments and International Investment Position Manual prepared by the International Monetary Fund (IMF) to provide guidance to member countries. These standards ensure comparability of the balance of payments statistics among countries.
Turkish Balance of Payments statistics are issued on a monthly basis and compiled based on the 6th edition of the IMF's Balance of Payments and International Investment Position Manual released in 2009.
Data are available as time series in EVDS. Click here for access.
Balance of Payments Developments - March 2019
- The current account deficit recorded USD 589 million indicating a decrease of USD 4,145 million compared to March of the previous year, bringing the 12-month rolling deficit to USD 12,829 million.
- This development in the current account is mainly attributable to USD 3,725 million decrease in the goods deficit recording net outflow of USD 916 million.
- Gold and energy excluded current account indicated USD 3,477 million surplus, in contrast to USD 573 million deficit observed in the same month of the previous year.
- Services item realized net inflow of USD 1,298 million increasing by USD 113 million compared to March 2018. Specifically, travel item under services recorded net inflow of USD 1,043 million, increasing by USD 55 million in the same month.
- Investment income under primary income item indicated a net outflow of USD 1,076 million decreasing by USD 131 million in comparison to the same month the previous year.
- Additionally, secondary income recorded net inflow of USD 199 million increasing by USD 195 million in comparison to the same month of the previous year.
- Direct investment recorded a net inflow USD 965 million decreasing by USD 120 million compared to the same month of the previous year.
- Portfolio investment recorded a net inflow of USD 1,353 million. Regarding the bond issues in international capital markets, even though General Government realized net repayment of USD 500 million, banks and other sectors realized net borrowing of USD 1,702 and USD 1,202 million, respectively.
- Non-residents’ equity securities transactions and government domestic debt securities transactions recorded net sales of USD 554 million and USD 863 million, respectively.
- Other investment recorded a net outflow of USD 3,153 million.
- Under other investment, banks’ currency and deposits within their foreign correspondent banks and nonresident banks’ deposits held within domestic banks increased by USD 4,722 and USD 303 million, respectively, on net basis.
- Besides, for the deposit accounts of residents (excluding banks) held in abroad, Bank for International Settlements (BIS) statistics were finalized for the fourth quarter of 2018 and reflected in the related item as an outflow of USD 3,075 million.
- Regarding the loans provided from abroad, other sectors realized net borrowings of USD 789 million, while banks and General Government realized net repayments of USD 709 million and USD 91 million, respectively.
- Official reserves recorded net outflow of USD 5,728 million.