Turkey's current account, while a deficit of 1 billion 127 million dollars in June, 12-month current account deficit was 29 billion 679 million dollars.
The Central Bank of the Republic of Turkey (CBRT) announced the balance of payments data for the period of June 2021.
Accordingly, the current account deficit decreased by 1 billion 947 million dollars in June compared to the same month of the previous year and became 1 billion 127 million dollars. As a result, the 12-month current account deficit amounted to 29 billion 679 million dollars.
This development was driven by the fact that the services balance item, which had a deficit of 346 million dollars in June last year, had a net surplus of 1 billion 511 million dollars in the same month of this year, and the foreign trade deficit defined in the balance of payments decreased by 462 million dollars to 1 billion 599 million dollars.
The current account, excluding gold and energy, which gave a surplus of 40 million dollars in June of last year, gave a surplus of 1 billion 995 million dollars in June of this year.
Net revenues arising from the travel item under the services balance amounted to 1 billion 26 million dollars.
Net outflows arising from the primary income balance increased by 418 million dollars compared to the same month of 2020 and amounted to 1 billion 21 million dollars. Net outflows arising from the secondary income balance item decreased by 46 million dollars compared to the same month of the previous year and became 18 million dollars.
Economists participating in the survey conducted by AA Finans expected the current account to have a deficit of 1 billion 260 dollars in June.
On the other hand, the current account deficit for May was revised from 3 billion 81 million dollars to 3 billion 204 million dollars.
According to the data of the Central Bank of the Republic of Turkey (CBRT), a net inflow of 796 million dollars resulted from direct investments in June.
The CBRT announced the balance of payments data for the period of June 2021.
Accordingly, net inflows from direct investments amounted to 796 million dollars in June. In this period, portfolio investments recorded a net inflow of 2 billion 823 million dollars.
Analyzing by sub-items, non-residents made a net purchase of 28 million dollars in the stock market and 237 million dollars in the government domestic debt securities market in June. In the same period, banks related to bond issues abroad realized a net use of 620 million dollars, the general government 1 billion 500 million dollars and other sectors 790 million dollars.
The effective and deposit assets of domestic banks in their foreign correspondents decreased by 1 billion 253 million dollars in June. Domestic deposits of foreign banks recorded a net decrease of 125 million dollars, with an increase of 214 million dollars in foreign currency and a decrease of 339 million dollars in Turkish lira.
Regarding the loans obtained from abroad, banks realized a net repayment of 400 million dollars and other sectors realized a net repayment of 393 million dollars, while the general government realized a net use of 84 million dollars.
A net increase of 8 billion 840 million dollars was observed in official reserves in June.
According to the Central Bank's provisional data, the balance of payments realizations by periods are as follows (in million dollars):
2020 January-June 2021 June 2021 January-June
A- CURRENT ACCOUNT -21.226 -1.127 -13.601
1. Exports 74,669 19,628 103,920
2. Imports 92.935 21.227 117.286
Goods Balance -18,266 -1,599 -13,366
3. Service Revenues 14.748 4.133 18.764
4. Service Expenses 12,145 2,622 13,136
Goods and Services Balance -15,663 -88 -7,738
5. Primary Investment Income 3,160 377 3,510
6. Primary Investment Expenses 8.332 1.398 9.985
Goods, Services and Primary Income Balance -20.835 -1.109 -14.213
7. Secondary Investment Income -391 -18 612
B. CAPITAL ACCOUNT -20 -1 -19
C. FINANCE ACCOUNT 6.994 -7.020 -12.168
8. Direct Investments: Net Asset Acquisition 942 222 1,856
9. Direct Investments: Net Liability Formation 3,182 1,018 4,378
10. Portfolio Investments: Net Asset Acquisition -1,117 327 -139
11. Portfolio Investments: Net Liability Formation -13,818 3,150 1,780
11.1. Stocks -3.970 28 -1.808
11.2. Debt Securities -9,848 3,122 3,588
12. Other Investments: Net Asset Acquisition -6.831 342 9.579
12.1. Central Bank 0 0 0
12.2. General Government 13 0 3
12.3. Banks 2.020 -1.206 5.558
12.4. Other Sectors -8,864 1,548 4,018
13. Other Investments: Net Liability Formation -3.364 3.743 17.306
13.1. Central Bank 11,218 3,477 4,797
13.2. General Government -406 84 -263
13.3. Banks -2.386 -660 4.511
13.4. Other Sectors -11,790 842 8.261
Current, Capital and Financial Accounts -28,240 5.892 -1.452
D. NET ERRORS AND Omissions -1.878 2.948 8.716
GENERAL BALANCE 30,118 -8,840 -7,264
E. RESERVE ASSETS -30,118 8,840 7,264
14. Official Reserves -30,118 8,840 7,264
15. International Monetary Fund Loans 0
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