Balance of Payments Developments

Balance of Payments Developments



  • The current account deficit recorded USD 2,762 million indicating an increase of USD 561 million compared to January of the previous year, bringing the 12-month rolling deficit to USD 33,163 million.
  • This development in the current account is mainly attributable to USD 420 million increase in the deficit in goods item recording USD 3,105 million and USD 232 million decrease in services item recording USD 578 million.
  • Travel item, one of the main items under services, recorded a net inflow of USD 589 million decreasing by USD 125 million compared to the same month of the previous year.
  • Investment income under primary income item indicated a net outflow of USD 336 million decreasing by USD 55 million in comparison to January 2016.


  • Direct investment recorded a net inflow of USD 360 million (increase in net liabilities) decreasing by USD 429 million compared to the same month of the previous year.
  • Portfolio investment recorded a net inflow of USD 1,584 million (increase in net liabilities). As regards to subitems through liabilities, non-residents’ equity securities recorded net purchases of USD 649 million, while government domestic debt securities transactions indicated net sales of USD 802 million.  
  • Regarding the bond issues in international capital markets, General Government  realized a net borrowing of USD 2 billion, while banks and other sectors realized net repayments of USD 170 million and USD 53 million respectively.
  • Other investment recorded a net outflow of USD 534 million (increase in net assets).
  • Under other investment, banks’ currency and deposits within their foreign correspondent banks increased by USD 2,797 million and nonresident banks’ deposits held within domestic banks increased by USD 1,512 million on a net basis.
  • Regarding the loans provided from abroad, General Government, banks and other sectors were all net borrowers in the amount of USD 170 million, USD 187 million and USD 225 million, respectively.
  • Official reserves recorded a net decrease of USD 2,055 million.

CENTRAL BANK OF THE REPUBLIC OF TURKEY Head Office Anafartalar Mah. İstiklal Cad. No:10 06050 Ulus Altındağ Ankara Phone : (+90 312) 507 50 00 | Fax : (+90 312) 507 56 40