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.
Balance of Payments Developments - August 2018
- The current account recorded USD 2,592 million surplus reducing the 12-month rolling deficit to USD 51,125 million, whereas USD 923 million deficit was observed in the same month of 2017.
- Gold and energy excluded current account (*) indicated USD 5,109 million surplus, increasing from USD 2,438 million observed in the same month of the previous year.
- The surplus in the current account is mainly attributable to USD 3,065 million decrease in the goods deficit recording net outflow of USD 1,284 million, as well as USD 741 million increase in net inflows in the services item realizing USD 4,627 million.
- Travel item under services account recorded a net inflow of USD 3,693 million, increasing by USD 461 million compared to the same month of the previous year.
- Investment income item under primary income indicated a net outflow of USD 675 million increasing by USD 67 million in comparison to the same month the previous year.
(*) A new table, namely “Table 7: Current Account, Non-Monetary Gold and Energy Trade” has been included in the data set of balance of payments statistics starting with the publication of August 2018.
- Direct investment recorded a net inflow USD 737 million decreasing by USD 60 million compared to the same month of the previous year.
- Portfolio investment recorded a net outflow of USD 1,786 million. As regards to main sub-items, residents’ portfolio investments abroad increased by USD 821 million and nonresidents’ portfolio investments within domestic markets decreased by USD 965 million.
- Non-residents’ equity securities transactions and government domestic debt securities transactions recorded net sales of USD 36 million and of USD 666 million, respectively.
- Regarding the bond issues in international capital markets, banks realized net repayments of USD 24 million.
- Under other investment, banks’ currency and deposits within their foreign correspondent banks and nonresident banks’ deposits held within domestic banks increased by USD 10,371 million and USD 284 million on the net basis, respectively.
- Regarding the loans provided from abroad, banks and General Government realized net repayments of USD 2,210 million and USD 5 million respectively, while other sectors realized net borrowing of USD 133 million.
- Official reserves recorded net outflow of USD 8,075 million.