Macro Indicators

6/11/2018

The Current Deficit Has Reached $5.4 Billion in April

The current deficit has reached $1,706 billion with a $5,426-billion increase compared to April last year. This has raised the 12-month current accounts deficit to $57,073 billion

Turkish Central Bank (TCMB) has announced Turkey's balance of payments for April 2018. Accordingly, the current deficit has reached $1,706 billion with a $5,426 billion increase compared to the same period of last year. This has raised the 12-month current accounts deficit to $57,073 billion.

The foreign trade deficit increases by $1.8 billion

The increase in the current deficit is primarily attributable to the fact that the foreign trade deficit has reached $5,462 billion with a $1,817 billion increase, and the primary revenue balance has reached $1,489 billion with a $279 million increase. Net outflows arising from the investment income item under the primary income balance item have reached $1,423 billion with a $269 million increase compared to the same month of the previous year.

Net inflows arising from the service balance has increased by $1.4 billion

According to the TCMB data, net inflows arising from the service balance have reached $1,474 billion with a $375 million increase compared to the same month of the previous year. Net income arising from the travel item under the Service balance item has reached $1,122 billion with a $366 million increase compared to the same month of the previous year.

Net inflows arising from direct investments have only increased by $138 million

Net inflows arising from the direct investments have reached $703 million with a $138 million increase compared to the same month of the previous year. This was affected by the fact that net asset acquisition declined to $160 million with a $243 million decrease, and formation of net liabilities declined to $863 million with a $105 million decrease.

Overseas deposit assets of domestic banks have decreased by $1.9 billion

Net inflow worth $7,726 billion has realized in other investments. Under other investments, a net decrease of $1,893 billion in the overseas effective and deposit accounts of domestic banks, and a net increase of $2,017 billion increase in the domestic accounts of foreign banks have taken place.

Regarding the loans taken out from abroad, banks and other industries have taken out $1,668 billion and $864 million of net loans respectively, and the General Government has made a net repayment of $165 million. An increase of $2,761 billion took place in official reserves in April.