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- October 13, 202618°
- BIST10012,252-0.11%
- USD49.34+0.24%
- EUR55.21-0.01%
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- INTEREST37.00%-1.00
- BITCOIN83,188+1.75%
- October 13, 202618°
Türkiye posts $4.053 billion current-account surplus in August
According to data released by the Central Bank of the Republic of Türkiye, the current-account balance posted a $4.053 billion surplus in August. The services balance generated a net inflow of $9.711 billion, while the annualized current-account deficit stood at $42.1 billion.
According to balance-of-payments data released by the Central Bank of the Republic of Türkiye, Türkiye's current-account balance posted a $4.053 billion surplus in August. The current-account balance excluding gold and energy also recorded a surplus of $8.205 billion.
The balance-of-payments-defined foreign-trade deficit stood at $3.746 billion in August. On an annualized basis, the current-account deficit was approximately $42.1 billion, while the balance-of-payments-defined foreign-trade deficit stood at $78.4 billion.
Services balance posts a surplus
On an annualized basis, the services balance posted a surplus of $63.9 billion. During the same period, the primary-income balance recorded a deficit of $25.6 billion, while the secondary-income balance posted a deficit of $1.9 billion.
Net inflows from the services balance totaled $9.711 billion in August. Transport services contributed $3.265 billion to this figure, while travel generated net income of $7.285 billion.
Loans lead current-account deficit financing
Net portfolio investments contributed $5.5 billion to the financing of the annualized current-account deficit, while loans contributed $47.1 billion and trade credits contributed $500 million. Financial derivatives had a negative impact of $4.8 billion, net direct investments had a negative impact of $900 million, and net foreign exchange and deposits had a negative impact of $17.7 billion.
The Central Bank's net foreign-currency reserves declined by $30.1 billion. By contrast, official reserves recorded a net increase of $7.138 billion in August.
Net inflow of $141 million from direct investments
Net inflows from direct investments totaled $141 million in August. Direct investments in Türkiye by nonresidents increased by $719 million, while direct investments abroad by residents increased by $578 million.
In real-estate investments, residents purchased $142 million worth of property abroad. Nonresidents' net real-estate purchases in Türkiye totaled $244 million.
Portfolio investments record net outflow
Portfolio investments recorded a net outflow of $1.034 billion in August. Nonresidents made net purchases of $1.05 billion in the equities and investment-fund markets and $77 million in the government domestic debt securities market.
In overseas bond issuances, other sectors recorded net purchases of $34 million. Banks recorded net sales of $122 million, while General Government issuances recorded net sales of $201 million.
Credit use and deposit movements
In external borrowing, banks recorded net borrowing of $2.186 billion, while other sectors recorded net borrowing of $1.23 billion. General Government made net repayments of $82 million.
Under other investments, deposits held by overseas banks in Turkish lira in Türkiye declined by $872 million, while their foreign-currency deposits increased by $889 million. As a result, these deposits recorded a total net increase of $17 million.
Source: Anadolu Ajansı
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