Turkey Current Account to GDP

Turkey recorded a Current Account deficit of 6.10 percent of the countrys Gross Domestic Product in 2012. Current Account to GDP in Turkey is reported by the Central Bank of the Republic of Turkey. From 1980 until 2012, Turkey Current Account to GDP averaged -2.3 Percent reaching an all time high of 2.0 Percent in December of 2001 and a record low of -9.7 Percent in December of 2011. The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes. This page provides - Turkey Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-16

Actual Previous Highest Lowest Forecast Dates Unit Frequency
-6.10 -9.70 2.00 -9.70 -6.17 | 2013/12 1980 - 2012 Percent Yearly

TO

Turkey Current Account to GDP
LIST BY COUNTRY

Trade Last Previous Highest Lowest Forecast Unit
Current Account -3191.00 2014-02-15 -4930.00 1132.00 -9518.00 -3644.42 2014-03-31 USD Million [+]
Current Account to GDP -6.10 2012-12-31 -9.70 2.00 -9.70 -6.17 2013-12-31 Percent [+]
External Debt 388243.00 2013-12-31 372652.00 388243.00 43911.00 398334.40 2014-03-31 USD Million [+]
Foreign Direct Investment 12387.00 2012-12-31 15904.00 22046.00 1800.00 10110.49 2013-12-31 USD Million [+]
Remittances 60.00 2014-02-15 72.00 574.00 43.00 55.10 2014-02-28 USD Million [+]
Terms of Trade 98.78 2014-02-15 100.55 147.63 93.96 99.61 2014-02-28 Index Points [+]
Tourist Arrivals 1352184.00 2014-02-15 1146815.00 4945999.00 213998.00 1909918.04 2014-03-31 [+]
Balance of Trade -5099.79 2014-02-15 -6849.60 24.51 -10453.06 -6358.72 2014-03-31 USD Million [+]
Exports 13150.45 2014-02-15 12442.45 14198.49 7.10 13426.31 2014-03-31 USD Million [+]
Imports 18250.25 2014-02-15 19292.05 23245.30 15.00 18729.02 2014-03-31 USD Million [+]
[+]


Current Account to GDP | Notes
The Current account balance as a percent of GDP provides an indication on the level of international competiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.


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In February of 2014, Turkish annual inflation rate accelerated for the third straight month to 7.89 percent from 7.75 percent in the previous month. On a monthly basis, prices decelerated to 0.43 percent, following a 1.98 percent rise a month earlier.
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Turkey’s trade deficit decreased in January of 2014, to USD -6.8 billion from USD -7.3 billion a year earlier and USD 9.9 billion in December of 2013. Exports to the European Union increased by 13.7 percent with Germany as the main exports’ partner and Russia as the top country for imports.
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At its February 18th, 2014 meeting, the Central Bank of Turkey decided to leave the benchmark repo rate on hold at 10 percent and the overnight lending rate at 12 percent. Last month, the central bank rose rates sharply aiming to stabilize the lira.
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