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 - June 2018
- The current account deficit recorded USD 2,973 million indicating a decrease of USD 818 million compared to June of the previous year, bringing the 12-month rolling deficit to USD 57,386 million.
- In this month, goods deficit decreased by USD 228 million to USD 4,388 million and primary income deficit decreased by USD 125 million to USD 1,008 million.
- Services item recorded net inflow of USD 2,385 million increasing by USD 712 million compared to the same month of the previous year, mainly stemming from USD 490 million net increase in travel revenues observing as USD 1,881 million in June 2018.
- Investment income under primary income item indicated a net outflow of USD 951 million decreasing by USD 119 million in comparison to the same period the previous year.
- Secondary income item, which recorded net inflow of USD 285 million on June of the previous year, also recorded net inflow of USD 38 million.
- Direct investment recorded net inflow of USD 951 million.
- Portfolio investment recorded a net outflow of USD 883 million. As regards to sub-items through liabilities, non-residents’ equity securities transactions recorded net purchases of USD 76 million, while government domestic debt securities transactions recorded net sales USD 262 million.
- Regarding the bond issues in international capital markets, banks realized net repayment of USD 335 million.
- Other investment recorded a net outflow of USD 4,534 million.
- Under other investment, banks’ currency and deposits within their foreign correspondent banks increased by USD 1,806 million, while nonresident banks’ deposits held within domestic banks decreased by USD 408 million net basis, respectively.
- Regarding the loans provided from abroad, banks, General Government and other sector realized net repayments of USD 556 million, USD 141 million and USD 203 million.
- Official reserves recorded net outflow of USD 6,988 million.