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Türkiye's current account deficit narrowed slightly to $4.08 billion in March 2025, the central bank reported on Tuesday.
The goods trade recorded a deficit of $4.84 billion during the month, while the services sector offset some of the gap with a net surplus of $2.67 billion. When gold and energy are excluded—both of which tend to be volatile—the current account registered a surplus of $1.47 billion, highlighting underlying strength in core trade activity.
For the first quarter of 2025, the total current account deficit reached $12.28 billion. Over the same period, the goods deficit stood at $15.8 billion, while services brought in a surplus of $8 billion. On a 12-month rolling basis, the current account gap narrowed to $12.6 billion. Goods continued to weigh heavily on the balance, with a $58.1 billion deficit, while services provided a strong offset with $61.8 billion in surplus.
Treasury and Finance Minister Mehmet Simsek said the government expects the current account deficit to end the year well below previous forecasts, supported by resilient exports, falling energy prices, and stronger-than-expected tourism revenues.
"The sustainability of the current account balance suggests that the downward trend in the ratio of gross external financing needs to national income will continue," Simsek said.
He also emphasized that gold imports have remained high, driven largely by rising global prices and persistent uncertainty in global markets. Despite this pressure, Simsek underlined that the deficit remains manageable and consistent with broader economic targets for the year.
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