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.
Balance of Payments Developments - April 2018
- The current account deficit recorded USD 5,426 million indicating an increase of USD 1,706 million compared to April of the previous year, bringing the 12-month rolling deficit to USD 57,073 million.
- This development in the current account is mainly attributable to USD 1,817 million increase in the goods deficit recording net outflow of USD 5,462 million and USD 279 million increase in primary income deficit to USD 1,489 million. On the other hand, services surplus recorded net inflow of USD 1,474 million increasing by USD 375 million.
- Travel item under services recorded a net inflow of USD 1,122 million, increasing by USD 366 million compared to the same month of the previous year.
- Investment income under primary income item indicated a net outflow of USD 1,423 million increasing by USD 269 million in comparison to the same period the previous year.
- Direct investment recorded a net inflow USD 703 million increasing by USD 138 million compared to the same month of the previous year. Specifically, net acquisition of financial assets decreased by USD 243 million to USD 160 million and net incurrence of liabilities decreased by USD 105 million to USD 863 million.
- Portfolio investment recorded a net outflow of USD 502 million.
- As regards to sub-items through liabilities, non-residents’ equity securities transactions recorded net sales of USD 414 million, while government domestic debt securities transactions recorded net purchases of USD 456 million.
- Regarding the bond issues in international capital markets; banks, General Government and other sectors realized net repayments of USD 339 million, USD 250 million and USD 716 million, respectively.
- Other investment recorded a net inflow of USD 7,726 million.
- Under other investment, banks’ currency and deposits within their foreign correspondent banks decreased by USD 1,893 million and nonresident banks’ deposits held within domestic banks increased by USD 2,017 million on net basis.
- Regarding the loans provided from abroad, General Government realized net repayments of USD 165 million, while banks and other sectors realized net borrowings of USD 1,668 million and USD 864 million, respectively.
- Official reserves recorded net inflow of USD 2,761 million.