Balance of Payments Statistics


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 - January 2020

Current Account

  • The current account deficit recorded USD 1,804 million indicating an increase of USD 1,528 million compared to January of the previous year, bringing the 12-month rolling surplus to USD 6,494 million.

  • The monthly development in the current account is mainly attributable to USD 1,994 million increase in the goods deficit recording net outflow of USD 3,245 million.

  • Gold and energy excluded current account indicated USD 3,220 million surplus, which was observed as USD 3,409 million surplus in the same month of the previous year.

  • The net inflows at the services item increased by USD 78 million and realized as USD 1,586 million.

  • Travel item under services recorded a net inflow of USD 1,100 million, increasing by USD 112 million compared to the same month of the previous year.

  • Investment income under primary income item indicated a net outflow of USD 223 million, decreasing by USD 310 million compared to the same period the previous year.

  • Secondary income recorded net inflow of USD 195 million increasing by USD 95 million compared to the same month of the previous year.

Financial Account

  • Direct investment recorded a net inflow USD 765 million, decreasing by USD 26 million compared to the same month of the previous year.

  • Portfolio investment recorded a net outflow of USD 1,222 million. As regards to sub-items through liabilities, both non-residents’ equity securities and government domestic debt securities transactions recorded USD 333 million and USD 498 million of net sales, respectively.

  • Regarding the bond issues in international capital markets, banks realized net borrowing of USD 234 million.

  • Under other investment, banks’ currency and deposits within their foreign correspondent banks and nonresident banks’ deposits held within domestic banks increased by USD 2,098 million and USD 2,193 million respectively, on net basis.

  • Regarding the loans provided from abroad, banks and other sectors realized net repayments of USD 1,503 million and USD 219 million respectively, while General Government realized net borrowing of USD 4 million.

  • Official reserves recorded net outflow of USD 2,934 million.

Revisions in Balance of Payments Statistics for 2013-2019

In line with the “Future Revisions” announced on March 5, 2020;

  • Services item including “International Trade in Services Statistics” (ITSS) initiated to release by Turkish Statistical Institute (Turkstat) has been revised based on administrative records of the Revenue Administration for the period of 2013-2015 and year-2019, and on the results of the ITSS for the period of 2016-2018.
  • Foreign trade data for 2013-2019 have been revised in line with of Foreign Trade Statistics disseminated by Turkstat based on general trade system. Trade Credit and Advances item under Financial Account has also been revised due to the updates in foreign trade data.

As a result of abovementioned revisions;

  • Services item increased by USD 9.8 billion in 2013, USD 7.7 billion in 2014, USD 5.4 billion in 2015, USD 4.9 billion in 2016, USD 6.1 billion in 2017, USD 5.3 billion in 2018 and USD 4.7 billion in 2019.

  • Current account deficit decreased by USD 8.4 billion in 2013, USD 6.1 billion in 2014, USD 5.0 billion in 2015, USD 4.7 billion in 2016, USD 6.0 billion in 2017, USD 7.5 billion in 2018 and current account surplus increased by USD 6.3 billion in 2019.
  • Net errors and omissions decreased by USD 10.5 billion in 2013, USD 5.3 billion in 2014, USD 3.4 billion in 2015, USD 4.3 billion in 2016, USD 6.6 billion in 2017, USD 10.6 billion in 2018 and USD 7.4 billion in 2019.


Data - January 2020


Revision Policy

Methodological Changes

Future Revisions

Note on the Changeover to the 6th Edition of the Balance of Payments and International Investment Position Manual (BPM6)