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 - May 2020
- The current account posted USD 3,764 million deficit compared to USD 1,071 million surplus observed in the same month of 2019, bringing the 12-month rolling deficit to USD 8,244 million.
- This development is mainly driven by USD 2,389 million increase in the goods deficit recording net outflow of USD 2,734 million, as well as a net outflow of USD 33 million in the services item against a net inflow of USD 2,907 million observed in the same month of the previous year.
- Gold and energy excluded current account indicated USD 1,847 million deficit, in comparison to USD 4,345 million surplus observed in the same month of the previous year.
- Investment income under primary income account indicated a net outflow of USD 920 million, decreasing by USD 399 million compared to the same month of the previous year.
- The secondary income account indicated a net outflow of USD 28 million, decreasing by USD 36 million compared to the same month of the previous year.
- Direct investment recorded a net inflow of USD 118 million increasing by USD 36 million observed in the same month of the previous year.
- Portfolio investment recorded a net outflow of USD 2,539 million. As regards to sub-items through liabilities, both non-residents’ equity securities and government domestic debt securities transactions recorded net sales of USD 1,009 million and USD 986 million, respectively.
- Regarding the bond issues in international capital markets, banks, General Government and other sectors realized net repayments of USD 60 million, USD 2,171 million and USD 448 million respectively.
- Under other investment, banks’ currency and deposits within their foreign correspondent banks decreased by USD 488 million, while nonresident banks’ deposits held within domestic banks increased by USD 619 million, on net basis.
- Regarding the loans provided from abroad, banks, General Government and other sectors realized net repayments of USD 402 million, USD 117 million and USD 878 million, respectively.
- Official reserves recorded net inflow of USD 2,717 million.