Balance of Payments Developments – Muhasebe News https://www.muhasebenews.com Muhasebe News Tue, 14 Mar 2023 07:45:41 +0000 en-US hourly 1 https://wordpress.org/?v=6.3.3 Direct investment of Türkiye recorded net inflow of USD 223 million https://www.muhasebenews.com/en/direct-investment-of-turkiye-recorded-net-inflow-of-usd-223-million/ https://www.muhasebenews.com/en/direct-investment-of-turkiye-recorded-net-inflow-of-usd-223-million/#respond Tue, 14 Mar 2023 07:45:41 +0000 https://www.muhasebenews.com/?p=139989 Balance of Payments Developments in Türkiye- January 2023

Current Account

  • In January, current account recorded deficit of USD 9,849 million. Gold and energy excluded current account indicated net surplus of USD 2,602 million.
  • Goods deficit recorded USD 12,431 million.
  • Services recorded a net surplus of USD 3,164 million. Under services, travel item recorded a net inflow of USD 2,454 million.
  • The outflows from primary income recorded USD 381 million and from secondary income indicated USD 201 million.

Financial Account

  • Direct investment recorded net inflow of USD 223 million.
  • Portfolio investment recorded a net inflow of USD 490 million. As regards to sub-items in liabilities, non-residents’ transactions on equity securities recorded net sales of USD 486 million, while government domestic debt securities recorded net purchases of USD 22 million.
  • Regarding the bond issues in international capital markets, General Government realized net borrowing of USD 2,750 million, while banks and other sectors realized net repayments of USD 690 million and USD 469 million, respectively.
  • Under other investment, Turkish banks’ currency and deposits within their foreign correspondent bank accounts increased by USD 4,058 million.
  • Non-resident banks’ deposit accounts held within domestic banks increased by USD 1,635 million, with a decrease of USD 2 million in foreign currency and an increase of USD 1,637 million in Turkish lira accounts.
  • Regarding the loans provided from abroad, General Government and banks realized net repayments of USD 103 million and USD 947 million respectively, while other sectors realized net borrowing of USD 548 million.
  • Official reserves decreased by USD 9,341 million.

Source: Central Bank of the Republic of Türkiye
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]]> https://www.muhasebenews.com/en/direct-investment-of-turkiye-recorded-net-inflow-of-usd-223-million/feed/ 0 Turkish merchandise exports in the first quarter of 2021 increased by 17.25%, compared to the previous year https://www.muhasebenews.com/en/turkish-merchandise-exports-in-the-first-quarter-of-2021-increased-by-17-25-compared-to-the-previous-year/ https://www.muhasebenews.com/en/turkish-merchandise-exports-in-the-first-quarter-of-2021-increased-by-17-25-compared-to-the-previous-year/#respond Thu, 22 Apr 2021 08:44:23 +0000 https://www.muhasebenews.com/?p=108163 Developments in Turkey’s External Merchandise Trade in the First Quarter of 2021

After a continuing strong performance in the last quarter of 2020 (Figure1), Turkish merchandise exports amounted to 50 billion 23 million US dollars in the first quarter of 2021 with an increase of 17.25% compared to the previous year. Meanwhile, merchandise imports increased by 9.67% and reached 61 billion 67 million US dollars. Foreign trade volume in the first quarter of 2021 realized as 111 billion 91 million US dollars with a significant increase of 12.96% compared to same period of the previous year. In the first quarter of 2021, the export/import coverage ratio reached to 81.9% from 76.6% of the first quarter of 2020.

Despite the negative effects of the pandemic, exports started to recover in the third quarter of 2020 and realized as 43.3 billion US dollars. In the last quarter of the year, the growth phase started and the quarterly exports exceeded 50 billion US dollars for the first time and reached 51.3 billion US dollars, the highest quarterly Turkish export figure ever. This positive trend continued in the beginning of 2021. Merchandise exports exceeded $ 50 billion in the first quarter of 2021, showing all-time high first-quarter figure (Figure 2).

In March 2021, exports reached the highest monthly value (18 billion 985 million US dollars) in the history of the Republic of Turkey.

In the first quarter of 2021, according to the broad economic activities categories classification (BEC), the export value of intermediate, consumption and capital goods were 24 billion 567 million US dollars, 19 billion 511 million US dollars and 5 billion 681 million US dollars, respectively. In the same period of 2021, the import value of intermediate, capital and consumption goods were 46 billion 13 million US dollars, 8 billion 652 million US dollars and 6 billion 306 million US dollars, respectively.

In the first quarter of 2021, Turkey exported motor land vehicles (6 billion 592 million US dollars), machinery (4 billion 952 million US dollars) and iron and steel (2 billion 784 million US dollars) most. In the same period, mineral fuels and oils (8 billion 734 million US dollar), machinery (7 billion 345 million US dollars) and iron and steel (5 billion 734 million US dollars)   were what Turkey imported most.

In the first quarter of 2021, the number of exporter companies increased by 12.3% compared to the previous year and exceeded 63.900. The number of importer companies was 116.334 in the same period.

In the first quarter of 2021, the main export destination for Turkish exports was Germany representing an export value of 4 billion 627 million US dollars. Germany was followed by the USA and United Kingdom with 3 billion 91 million US dollars and 2 billion 841 million US dollars of exports, respectively. In the same period of 2021, the top origin for Turkey’s imports was China with 7 billion 252 million US dollars. The country was followed by Russia and Germany with 6 billion 94 million US dollars and 5 billion 450 million US dollars of imports, respectively.

Figure 1. Quarterly Export Volume Index (2014 Q1=100, SA)

Source: World Trade Organization

Figure 2. Turkey’s Quarterly Merchandise Exports (Billion US Dollar)

Source: Ministry of Trade and TURKSTAT

Figure 3. The Main Partners for Export and Import (Thousand US Dollar)

Source: Ministry of Trade and TURKSTAT

Source: Republic of Turkey Ministry of Trade Data
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]]> https://www.muhasebenews.com/en/turkish-merchandise-exports-in-the-first-quarter-of-2021-increased-by-17-25-compared-to-the-previous-year/feed/ 0 The current account posted USD 4,923 million deficit in March 2020 in Turkey https://www.muhasebenews.com/en/the-current-account-posted-usd-4923-million-deficit-in-march-2020-in-turkey/ https://www.muhasebenews.com/en/the-current-account-posted-usd-4923-million-deficit-in-march-2020-in-turkey/#respond Thu, 14 May 2020 10:00:08 +0000 https://www.muhasebenews.com/?p=84471 CBRT – Balance of Payments Developments – March 2020

Current Account

  • The current account posted USD 4,923 million deficit in March 2020 in comparison to USD 120 million deficit observed in the same month of 2019, decreasing the 12-month rolling surplus to USD 1,463 million.
  • This development is mainly driven by USD 3,551 million increase in the goods deficit recording net outflow of USD 4,289 million and USD 918 million decrease in the services inflow recording net inflow of USD 735 million, as well as USD 197 million net outflow in secondary income compared to USD 131 million net inflow observed in the same month of the previous year.
  • Gold and energy excluded current account indicated USD 1,160 million deficit, in comparison to USD 3,930 million surplus observed in the same month of the previous year.
  • Travel item under services recorded a net inflow of USD 514 million, decreasing by USD 529 million compared to the same month of the previous year.
  • Investment income under primary income item indicated a net outflow of USD 1,049 million, decreasing by USD 9 million compared to the same month of the previous year.

Financial Account

  • Direct investment recorded a net inflow of USD 796 million, decreasing by USD 14 million compared to the same month of the previous year.
  • Portfolio investment recorded a net outflow of USD 5,498 million. As regards to sub-items through liabilities, both non-residents’ equity securities and government domestic debt securities transactions recorded USD 1,063 million and USD 2,118 million of net sales, respectively.
  • Regarding the bond issues in international capital markets, other sectors realized net repayments of USD 81 million.
  • Under other investment, banks’ currency and deposits within their foreign correspondent banks and nonresident banks’ deposits held within domestic banks decreased by USD 644 million and USD 2,565 million on net basis, respectively.
  • Regarding the loans provided from abroad, banks, General Government and other sectors realized net repayments of USD 460 million, USD 109 million and USD 3 million, respectively.
  • Official reserves recorded net outflow of USD 16,589 million.

Source: Central Bank of Republic of Turkey 13.05.2020
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

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