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 - April 2021
- The current account deficit recorded USD 1,712 million indicating a decrease of USD 3,584 million compared to April of the previous year, bringing the 12-month rolling deficit to USD 32,737 million.
- This development is mainly driven by USD 2,332 million decrease in the goods deficit compared to same month of the previous year recording USD 1,513 million, as well as USD 811 million net inflow in services item, which was observed as USD 339 million net outflow in the same month of the previous year.
- Gold and energy excluded current account indicated USD 942 million surplus, which was observed as USD 3,548 million deficit in the same month of the previous year.
- Under services, travel item recorded a net inflow of USD 596 million.
- Primary income outflow increased by USD 110 million on net basis compared to the same month of the previous year, realizing USD 1,258 million.
- Secondary income recorded net inflow of USD 248 million, increasing by USD 212 million compared to the same month of the previous year.
- Direct investment recorded net inflow of USD 56 million.
- Portfolio investment recorded a net outflow of USD 1,534 million. As regards to sub-items through liabilities, non-residents’ transactions on equity securities indicated net sales of USD 123 million and government domestic debt securities recorded net purchases of USD 44 million.
- Regarding the bond issues in international capital markets, banks realized net repayments of USD 1,011 million.
- Under other investment, Turkish banks’ currency and deposits within their foreign correspondent banks decreased by USD 2,503 million.
- Non-resident banks’ deposit accounts held within domestic banks expanded by USD 61 million, with a decrease of USD 325 million in foreign currency and an increase of USD 386 million in Turkish lira accounts.
- Regarding the loans provided from abroad, banks and General Government realized net repayments of USD 336 million and USD 79 million respectively, while other sectors realized net borrowings of USD 39 million.
- Official reserves recorded net outflow of USD 1,183 million.