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 - January 2018
- The current account deficit recorded USD 7,096 million indicating an increase of USD 4,402 million compared to January of the previous year, bringing the 12-month rolling deficit to USD 51,572 million.
- This development in the current account is mainly attributable to USD 4,537 million increase in the goods deficit recording net outflow of USD 7,634 million, as well as USD 82 million increase in primary income deficit to USD 479 million.
- Travel item under services recorded a net inflow of USD 822 million, increasing by USD 127 million compared to the same month of the previous year.
- Investment income under primary income item indicated a net outflow of USD 401 million increasing by USD 54 million in comparison to the same month of the previous year.
- Secondary income recorded net inflow of USD 98 million decreasing by USD 71 million in comparison to the same month of the previous year.
- Direct investment recorded a net inflow USD 288 million decreasing by USD 149 million compared to the same month of the previous year.
- Portfolio investment recorded a net inflow of USD 4,917 million. As regards to sub-items through liabilities, non-residents’ equity securities transactions recorded net purchases of USD 289 million and government domestic debt securities transactions recorded net purchases of USD 1,195 million.
- Regarding the bond issues in international capital markets, banks and other sectors realized net borrowing of USD 1,246 million and USD 493 million respectively, as General Government realized new bond issue of USD 2.0 billion.
- Other investment recorded net inflow of USD 7,474 million.
- Under other investment, banks’ currency and deposits within their foreign correspondent banks decreased by USD 2,592 million, while nonresident banks’ deposits held within domestic banks increased by USD 922 million on a net basis.
- Regarding the loans provided from abroad, banks and General Government realized net repayment of USD 88 million and USD 120 million respectively, while other sectors realized net borrowing of USD 1,093 million.
- Official reserves recorded net inflow of USD 4,381 million.