Balance of Payments Statistics

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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 - July 2021

Balance of Payments Statistics are revised as a result of the following enhancements;

  • “Export Receivables” and “Import Payables” data under Trade Credits are now compiled by the Turkish Statistical Institute (TURKSTAT) using direct reporting method, and
  • With the aim of ensuring conformity with international methodology, a transition is made from legal ownership to economic ownership in the description for ownership of securities.

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Current Account

  • The current account deficit recorded USD 683 million indicating a decrease of USD 1,306 million compared to July of the previous year, bringing the 12-month rolling deficit to USD 27,832 million.
  • This development is mainly driven by the net inflow of USD 2,948 million in services item increasing by USD 2,653 million compared to July of the previous year.
  • Goods deficit recorded USD 2,984 million deficit increasing by USD 1,022 million compared to the same month of the previous year.
  • Gold and energy excluded current account indicated USD 2,749 million surplus which was recorded USD 1,924 million surplus in the same month of the previous year.
  • Under services, travel item recorded a net inflow of USD 2,118 million.
  • Primary income outflow increased by USD 306 million on net basis compared to the same month of the previous year, realizing USD 702 million.
  • Secondary income item recorded USD 55 million net inflow, decreasing by USD 19 million compared to the same month of the previous year.

Financial Account

  • Direct investment recorded net inflow of USD 1,030 million.
  • Portfolio investment recorded a net inflow of USD 1,933 million. As regards to sub-items through liabilities, non-residents’ transactions on equity securities recorded net sales of USD 93 million and government domestic debt securities recorded net purchases of USD 439 million.
  • Regarding the bond issues in international capital markets, banks realized net repayments of USD 499 million, while General Government and other sectors realized net borrowing of USD 1,774 million and USD 195 million, respectively.
  • Under other investment, Turkish banks’ currency and deposits within their foreign correspondent banks decreased by USD 467 million.
  • Non-resident banks’ deposit accounts held within domestic banks increased by USD 301 million, with an increase of USD 217 million in foreign currency and USD 84 million in Turkish lira accounts.
  • Regarding the loans provided from abroad, banks and General Government realized net borrowing of USD 43 million and USD 231 million respectively, while other sectors realized net repayments of USD 176 million.
  • Official reserves recorded net inflow of USD 6,700 million.

Data - July 2021

Metadata

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)