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 - September 2018
- The current account recorded USD 1,830 million surplus reducing the 12-month rolling deficit to USD 46,058 million, whereas USD 4,441 million deficit was observed in the same month of 2017.
- Gold and energy excluded current account indicated USD 5,075 million surplus, in contrast to USD 588 million deficit observed in the same month of the previous year.
- In this month, goods deficit decreased by USD 5,899 million compared to the same month of 2017 realizing as USD 825 million and primary income deficit decreased by USD 127 million to USD 938 million.
- Services item recorded net inflow of USD 3,491 million increasing by USD 358 million compared to the same month of the previous year, mainly stemming from USD 166 million net increase in travel revenues observing as USD 2,852 million in September 2018.
- Investment income under primary income item indicated a net outflow of USD 855 million decreasing by USD 141 million in comparison to the same period the previous year.
- Secondary income recorded net inflow of USD 102 million decreasing by USD 113 million in comparison to the same month of the previous year.
- Direct investment recorded a net inflow USD 827 million increasing by USD 186 million compared to the same month of the previous year.
- Portfolio investment recorded a net outflow of USD 904 million. As regards to sub-items through liabilities, non-residents’ equity securities transactions and government domestic debt securities transactions recorded net sales of USD 71 million and USD 274 million, respectively.
- Regarding the bond issues in international capital markets, banks realized net borrowing of USD 26 million and other sectors realized net repayments of USD 47 million.
- Other investment recorded a net outflow of USD 4,812 million.
- Under other investment, banks’ currency and deposits within their foreign correspondent banks increased by USD 2,467 million, while nonresident banks’ deposits held within domestic banks net decreased by 991 million on the net basis.
- Regarding the loans provided from abroad, banks and General Government realized net repayments of USD 5,177 million and USD 321 million, respectively, while other sectors realized net borrowings of USD 38 million.
- Official reserves recorded net outflow of USD 3,476 million.