Balance of Payments Developments

Balance of Payments Developments

BALANCE OF PAYMENTS: JUNE 2017

CURRENT ACCOUNT

  • The current account deficit recorded USD 3,763 million indicating an decrease of USD 1,201 million compared to June of the previous year, bringing the 12-month rolling deficit to USD 34,340 million.
  • This development in the current account is mainly attributable to the decrease in the deficit in goods item by USD 670 million to USD 4,573 million and increase in the net services income by USD 491 million to USD 1,678 million.
  • Travel item under services recorded a net inflow of USD 1,391 million, increasing by USD 323 million compared to the same month of the previous year.
  • Investment income under primary income item indicated a net outflow of USD 1,071 million increasing by USD 115 million in comparison to June 2016.
  • Secondary income recorded net inflow of USD 282 million increasing by USD 178 million in comparison to the same month of the previous year.

FINANCIAL ACCOUNT

  • Direct investment recorded a net outflow USD 515 million (decrease in net liabilities) compared to net inflow of USD 706 million (increase in net liabilities) in the same month of the previous year.
  • Portfolio investment recorded a net inflow of USD 4,206 million. As regards to sub-items through liabilities, non-residents’ equity securities and government domestic debt securities transactions recorded net purchases of USD 693 million and USD 1,221 million, respectively.  
  • Regarding the bond issues in international capital markets, General Government and banks realized net borrowing of USD 1,121 million and USD 1,420 million, respectively.
  • Other investment recorded a net outflow of USD 2,051 million (increase in net liabilities).
  • Under other investment, banks’ currency and deposits within their foreign correspondent banks decreased by USD 117 million, whereas nonresident banks’ deposits held within domestic banks increased by USD 1,392 million.
  • Regarding the loans provided from abroad, General Government and other sectors realized net repayments of USD 179 million and USD 441 million, respectively. On the other hand, banks realized a net disbursement of USD 704 million.
  • Official reserves increased by USD 2,968 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