Balance of Payments Developments

Balance of Payments Developments

BALANCE OF PAYMENTS: APRIL 2017

CURRENT ACCOUNT

  • The current account deficit recorded USD 3,615 million indicating an increase of USD 542 million compared to April of the previous year, bringing the 12-month rolling deficit to USD 33,227 million.
  • This development in the current account is mainly attributable to USD 563 million increase in the deficit in goods item recording USD 3,533 million. On the other hand, in the same period, the net inflows in the services item recorded USD 1.112 million increasing by USD 346 million.
  • Travel item under services recorded a net inflow of USD 888 million, increasing by USD 199 million compared to the same month of the previous year.
  • Investment income under primary income item indicated a net outflow of USD 1.123 million decreasing by USD 3 million in comparison to April 2016.
  • Secondary income recorded net outflow of USD 2 million in contrast to net inflow of USD 312 million observed in the same month of the previous year.

FINANCIAL ACCOUNT

  • Under direct investment, net acquisition of financial assets increased by USD 137 million to USD 403 million, while net incurrence of liabilities decreased by USD 15 million to USD 765 million.
  • Portfolio investment recorded a net inflow of USD 3,259 million. As regards to sub-items through liabilities, non-residents’ equity securities and government domestic debt securities transactions recorded net purchases of USD 307 million and USD 1,347 million, respectively.  
  • Regarding the bond issues in international capital markets, General Government and banks realized net borrowing of USD 1,250 million and USD 209 million, respectively. On the other hand, other sectors realized a net repayment of USD 53 million.
  • Other investment recorded a net inflow of USD 40 million (increase in net liabilities).
  • Under other investment, both banks’ currency and deposits within their foreign correspondent banks and nonresident banks’ deposits held within domestic banks increased by USD 2,461 million and USD 1,369 million, respectively.
  • Regarding the loans provided from abroad, General Government and banks realized net repayment of USD 150 million and USD 424 million, respectively. On the other hand, other sectors realized a net disbursement of USD 1,152 million.
  • Official reserves decreased by USD 3,819 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