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 - August 2019
- The current account surplus recorded USD 2,604 million indicating an increase of USD 554 million compared to August of the previous year, increasing the 12-month rolling surplus to USD 5,097 million.
- This development in the current account is mainly attributable to USD 848 million increase in the services item recording net inflow of USD 5,216 million, as well as USD 73 million increase in secondary income surplus to USD 100 million.
- Gold and energy excluded current account surplus recorded USD 5,649 million indicating an increase of USD 1,083 million compared to August of the previous year.
- Good item showed a net deficit of USD 1,619 million, increasing by USD 45 million compared to August 2018.
- Travel item under services recorded a net inflow of USD 4,059 million, increasing by USD 737 million compared to the same month of the previous year.
- Investment income under primary income item indicated a net outflow of USD 1,027 million increasing by USD 353 million in comparison to the same month of the previous year.
- Direct investment recorded a net inflow USD 825 million, decreasing by USD 20 million compared to the same month of the previous year.
- Portfolio investment recorded a net outflow of USD 1,337 million. As regards to sub-items through liabilities, non-residents’ equity securities transactions and government domestic debt securities transactions recorded net sales of USD 512 million and USD 149 million, respectively.
- Regarding the bond issues in international capital markets, banks realized net borrowing of USD 85 million.
- Other investment recorded a net outflow of USD 1,047 million.
- Under other investment, banks’ currency and deposits within their foreign correspondent banks increased by USD 769 million, while nonresident banks’ deposits held within domestic banks increased by USD 434 million on net basis.
- Regarding the loans provided from abroad, banks, General Government and other sectors realized net repayments of USD 1,762 million, USD 430 million and USD 175 million, respectively.
- Official reserves item recorded net inflow of USD 254 million.