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Türkiye's current account balance recorded a $2.98 billion surplus in September, according to the Central Bank of the Republic of Türkiye (CBRT).
The bank noted on Tuesday that the current account balance, excluding gold and energy, recorded a net surplus of $7.7 billion for the month.
In September, the goods deficit was $3.1 billion, while services posted a net inflow of $7.4 billion; travel items, under services, recorded a net inflow of $5.97 billion.
Primary income saw a net outflow of $1.23 billion, and secondary income recorded a net outflow of $59 million in September.
Direct investment recorded a net inflow of $649 million in the month.
Treasury and Finance Minister Mehmet Simsek shared data showing that the annual current account deficit has reached its lowest level in 33 months, falling by $46 billion compared to May 2023. Simsek detailed the stats on his official X post:
The narrowing trade deficit was accompanied by a positive trend in the services balance, with annual services income reaching $112 billion in September. The robust outlook in external financing continues. In September, there was a portfolio inflow of $2.9 billion, bringing the total for the first nine months to $28 billion. During this period, the foreign debt rollover ratios for banks and the real sector reached 166% and 138%, respectively.
Treasury and Finance Minister Mehmet Simsek
Simsek said "We anticipate the annual current account deficit", estimating the annual current account deficit as a percentage of gross domestic product (GDP) to decline to 0.8% in the third quarter.
"An improving current account balance, reduced external financing needs, and increased capital inflows are contributing to reserve accumulation and supporting macroeconomic stability", Simsek noted.
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