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.
Data are available as time series in EVDS. Click here for access.
Balance of Payments Developments - June 2020
- The current account posted USD 2,934 million deficit increasing by USD 2,839 million compared to the same month of the previous year, bringing the 12-month rolling deficit to USD 11,094 million.
- This development is mainly driven by the net outflow of USD 294 million in services item against a net inflow of USD 3,413 million observed in the same month of the previous year, as well as the net outflow of USD 23 million in the secondary income account against a net inflow of USD 50 million observed in the same month of the previous year.
- Gold and energy excluded current account indicated USD 181 million surplus, in comparison to USD 2,647 million surplus observed in the same month of the previous year.
- Investment income under primary income account indicated a net outflow of USD 522 million, decreasing by USD 555 million compared to the same month of the previous year.
- Direct investment recorded a net inflow of USD 3 million.
- Portfolio investment recorded a net outflow of USD 1,499 million. As regards to sub-items through liabilities, both non-residents’ equity securities and government domestic debt securities transactions recorded net sales of USD 31 million and USD 427 million, respectively.
- Regarding the bond issues in international capital markets, banks, General Government and other sectors realized net repayments of USD 56 million, USD 2,000 million and USD 7 million, respectively.
- Under other investment, banks’ currency and deposits within their foreign correspondent banks increased by USD 2,317 million, while nonresident banks’ deposits held within domestic banks decreased by USD 1,511 million, on net basis.
- Regarding the loans provided from abroad, banks, General Government and other sectors realized net repayments of USD 373 million, USD 192 million and USD 902 million, respectively.
- Official reserves recorded net outflow of USD 7,707 million.