Current account balance | Turkey
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Overview
The account balance of Turkey in 2024 amounted to -10 023 million USD. In 2023 it was -39 877 million USD. It has been growing in this country for already 2 years in a row. Over the entire data period of International Monetary Fund (IMF), since 1980, this indicator has decreased 6 933million USD. The lowest account balance was recorded in 2011, when it was -74 403 million USD. The highest value of Turkey was in 2019, when it reached 15 014 million USD. This indicator is related to the balance of payments, which is a statement that summarizes economic transactions between residents and nonresidents during a specific time period. It consists of the goods and services account (the trade balance), the primary account, the secondary income account, the capital account, and the financial account.
Additional infomation:
About indicator
The balance of payments is a double-entry accounting system that shows all flows of goods and services into and out of an economy; all transfers that are the counterpart of real resources or financial claims provided to or by the rest of the world without a quid pro quo, such as donations and grants; and all changes in residents' claims on and liabilities to nonresidents that arise from economic transactions. All transactions are recorded twice - once as a credit and once as a debit. In principle the net balance should be zero, but in practice the accounts often do not balance, requiring inclusion of a balancing item, net errors and omissions.
