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.
Turkey's 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 - May 2021
- The current account deficit recorded USD 3,081 million indicating a decrease of USD 919 million compared to May of the previous year, bringing the 12-month rolling deficit to USD 31,858 million.
- This development is mainly driven by USD 939 million net inflow in services item, which was observed as USD 170 million net outflow in the same month of the previous year, as well as USD 151 million inflow in secondary income item in contrast to USD 38 million outflow observed in the previous year.
- The goods item recorded USD 2,869 million outflow increasing by USD 125 million compared to the same month of the previous year.
- Gold and energy excluded current account indicated USD 774 million deficit, decreasing from USD 2,083 million deficit in the same month of the previous year.
- Under services, travel item recorded a net inflow of USD 665 million.
- Primary income outflow increased by USD 254 million on net basis compared to the same month of the previous year, realizing USD 1,302 million.
- Direct investment recorded net inflow of USD 304 million.
- Portfolio investment recorded a net inflow of USD 836 million. As regards to sub-items through liabilities, non-residents’ transactions on equity securities and government domestic debt securities recorded net purchases of USD 99 million and USD 349 million, respectively.
- Regarding the bond issues in international capital markets, banks realized net repayments of USD 718 million, while other sectors realized net purchases of USD 796 million.
- Under other investment, Turkish banks’ currency and deposits within their foreign correspondent banks increased by USD 837 million.
- Non-resident banks’ deposit accounts held within domestic banks expanded by USD 933 million, with an increase of USD 840 million in foreign currency and USD 93 million in Turkish lira accounts.
- Regarding the loans provided from abroad, banks and General Government realized net repayments of USD 674 million and USD 19 million respectively, while other sectors realized net borrowing of USD 3,574 million.
- Official reserves recorded net inflow of USD 1,281 million.