Macro Indicators

4/11/2018

The Current Account Deficit Realized as $ 4 Billion 152 Million in February

The current account deficit having increased by $ 1.6 billion compared to February last year reached $ 4 billion 152 million in February. The 12-month current account deficit has thus reached $ 53.3 billion as of February 2018

The Central Bank has disclosed the Balance of Payments of Turkey for the month of February 2018. According to the disclosure, the current account deficit having increased by $ 1 billion 586 million compared to the same period last year reached $ 4 billion 152 million in February.

The current account deficit realized as $ 11 billion 191 million in the 2-month period of January-February of the current year, whereas the 12-month current account deficit realized as $ 53 billion 346 million as of February 2018.

Foreign trade deficit reached $ 4.4 billion in February increasing by $ 1.9 billion

It is observed that the foreign trade deficit which has been the major factor for the increase in the current account deficit reached $ 4 billion 442 million in February 2018. It is accordingly observed that the foreign trade deficit which was $ 2 billion 488 million in the same period last year displayed an increase of $ 1 billion 954 million.

The primary income balance gave a deficit of $ 4.1 billion

The deficit in the primary income balance consisting of commodities and services is determined to be as $ 4 billion 166 million as of February. It is observed that net inflow resulting from the balance of services in the given period realized as US$ 846 million increasing by US$ 364 million. Similarly, net revenues resulting from the travel expenditures under the heading of the balance of services have reached $ 835 million.

Financial accounts gave a deficit of $ 2.5 billion in February

On the other hand, it is observed that financial accounts constituting the second major item in the balance of payments also gave a deficit of $ 2 billion 515 million in February. It is thus observed that the deficit in financial accounts reached $ 15 billion 117 million in the first 2 months of the year. The deficit in financial accounts was recorded as $ 6 billion 735 million in the first 2-month period of last year. It is observed that there has been a considerable increase in the deficit in financial accounts in the 2-month period of the year with a further increase of $ 8 billion 382 million.

Direct investments displayed a net outflow of $ 268 million

On the other hand, it is observed that direct investments within the financial accounts displayed a net outflow of $ 268 million in February. It is stated that an increase in direct investments made by domestic residents from abroad reaching $ 779 million with a net increase of $ 592 million compared to the same month last year had an effect on the said development.

It is determined that portfolio investments on the other hand displayed a net outflow of $ 297 million in the given period. It is observed that residents abroad made net sales of $ 348 million in the stock market and $ 180 million in terms of government domestic debt securities in February.

Unaccredited cash inflow realized as $ 1.4 billion

It is observed that there has been an unaccredited cash inflow in February in the net errors and omissions item in the balance of payments. It is determined that there has been an unaccredited cash inflow of $ 1 billion 375 million in February. There was a cash outflow of $ 1 billion 215 million in terms of unaccredited cash in January. An unaccredited cash inflow of $ 160 million is thus being recorded in the net errors and omissions item in the 2-month period of the year.

There is a decline of $ 263 million in official reserves

It is meanwhile being observed that international official reserves decreased by $ 263 million within the scope of the balance of payments for the month of February. No loan transactions by IMF are recorded in accounts in the given period.