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 - November 2021
- The current account recorded a deficit of USD 2,681 million decreasing by USD 866 million observed in the same month of 2020, bringing the 12-month rolling deficit to USD 14,256 million.
- This development is mainly driven by the net inflow of USD 1,916 million in services item increasing by USD 794 million compared to the same month of the previous year and the net outflow of USD 3,475 million in the goods item decreasing by USD 385 million.
- Gold and energy excluded current account indicated USD 2,406 million surplus, which was recorded USD 1,139 million surplus in the same month of the previous year.
- Under services, travel item recorded a net inflow of USD 1,549 million, increasing by USD 712 million compared to the same month of the previous year.
- Primary income outflow increased by USD 5 million on net basis compared to the same month of the previous year, realizing USD 986 million.
- Secondary income item recorded USD 136 million net outflow, against an inflow of USD 172 million compared to the same month of the previous year.
- Direct investment recorded net inflow of USD 359 million.
- Portfolio investment recorded a net outflow of USD 1,446 million. As regards to sub-items through liabilities, non-residents’ transactions on equity securities recorded net purchases of USD 938 million and government domestic debt securities recorded net sales of USD 17 million.
- Regarding the bond issues in international capital markets, General Government and other sectors realized net repayments of USD 1,446 million and USD 452 million, respectively.
- Under other investment, Turkish banks’ currency and deposits within their foreign correspondent bank accounts decreased by USD 1,212 million.
- Non-resident banks’ deposit accounts held within domestic banks increased by USD 885 million, with an increase of USD 635 million in foreign currency and an increase of USD 250 million in Turkish lira accounts.
- Regarding the loans provided from abroad, other sectors realized net borrowing of USD 273 million, while banks and General Government realized net repayments of USD 301 million and USD 129 million, respectively.
- Official reserves recorded net inflow of USD 2,831 million.