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 - November 2018
- The current account recorded USD 986 million surplus reducing the 12-month rolling deficit to USD 33,932 million, whereas USD 4,482 million deficit was observed in the same month of 2017.
- Gold and energy excluded current account indicated USD 4,514 million surplus, in contrast to USD 898 million deficit observed in the same month of the previous year.
- The current account surplus is mainly attributable to the goods item indicating USD 523 million surplus in contrast to USD 4,781 million deficit observed in the same month of the previous year, as well as USD 386 million increase in net inflows in the services item realizing USD 1,475 million.
- Travel item under services recorded a net inflow of USD 1,219 million, increasing by USD 201 million compared to the same month of the previous year.
- Investment income under primary income item indicated a net outflow of USD 1,156 million increasing by USD 158 million in comparison to the same period the previous year.
- Secondary income recorded net inflow of USD 221 million decreasing by USD 62 million in comparison to the same month of the previous year.
- Direct investment recorded a net inflow of USD 1,001 million increasing by USD 673 million compared to the same month of the previous year.
- Portfolio investment recorded a net inflow of USD 1,720 million. As regards to sub-items through liabilities, non-residents’ equity securities transactions and government domestic debt securities transactions recorded net purchases of USD 346 million and USD 482 million, respectively.
- Regarding the bond issues in international capital markets, banks realized net repayments of USD 139 million and General Government realized new bond issue of USD 1,686 million.
- Other investment recorded a net outflow of USD 296 million.
- Under other investment, banks’ currency and deposits within their foreign correspondent banks and nonresident banks’ deposits held within domestic banks decreased by USD 2,733 million and USD 678 million on net basis, respectively.
- Regarding the loans provided from abroad, banks and General Government realized net repayments of USD 2,149 million and USD 125 million, respectively, while other sectors realized net borrowings of USD 282 million.
- Official reserves recorded net inflow of USD 4,404 million.