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. 2014-04-25

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 59.08 2014-03-31 USD Million [+]
Terms of Trade 98.78 2014-02-15 100.55 147.63 93.96 98.84 2014-03-31 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.


RELATED NEWS

Central Bank of Turkey Leaves Main Rates on Hold  
The Monetary Policy Committee decided on April 24th, 2014, to leave the one-week repo rate on hold at 10.0 percent for the third straight meeting. The Central Bank said it will maintain the current policy stance until there is a significant improvement in the outlook for inflation.
Turkey Unemployment Rate Edges Up Slightly in January  
Turkish jobless rate increased for the third consecutive month in January of 2014 to 10.1 percent, up from 10.0 percent in the previous month, but decreased compared with 10.6 percent recorded a year earlier.
Turkish Inflation Rate Rises Further in March  
Turkey’s annual inflation rate accelerated to 8.39 percent in March of 2014, from 7.89 a year earlier and 7.29 percent recorded in February of 2014, as food and transportation costs edged up. This is the highest rate in eight months.
Turkey GDP Expands 0.5% in Q4  
Turkey's seasonal and calendar adjusted GDP advanced 0.5 percent in the last quarter of 2013, while GDP growth reached 4.0 percent in 2013.
Turkey’ Trade Deficit Narrows To Lowest in Nearly 3-1/2 Years  
The trade deficit decreased in February of 2014 to USD -5.1 billion from USD -7.0 billion a year earlier and USD -6.9 billion in January of 2014. Compared with February of 2013, manufacturing exports climbed while imports of agriculture and manufactured goods decreased.
Turkish GDP Growth Beats Expectations in Q4  
In the last three months of 2013, the Turkish economy expanded 4.4 percent over a year earlier, up from a revised 4.3 percent in the previous three months and above market expectations.
Turkey Leaves Rates on Hold  
At its March 18th, 2014 meeting, the Central Bank of Turkey decided to leave the benchmark repo rate unchanged at 10 percent and the overnight lending rate at 12 percent, as January’s rate hike helped to stabilize the lira.
Turkish Unemployment Rate at 10%  
In December of 2013, Turkey’s jobless rate edged marginally higher to 10 percent from 9.9 percent in the previous month. A year earlier, unemployment was recorded at 10.1 percent.
Turkey Inflation Rate Edges Higher  
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.
Turkish Trade Deficit Narrows in January  
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.
MORE RELATED NEWS

LATEST NEWS

Tokyo Core CPI At 22- Year High in April  
Core consumer prices in Tokyo, a leading indicator of nationwide inflation, rose 2.7 percent in April from a year earlier, the fastest gain since 1992 as an increase in sales tax drove up cost of goods and services.
US Durable Goods Orders Surge in March  
New orders for manufactured durable goods in March increased $6.0 billion or 2.6 percent to $234.8 billion. This increase, up two consecutive months, followed a 2.1 percent February increase.
US Jobless Claims Rise in Latest Week  
In the week ending April 19, the advance figure for seasonally adjusted initial claims was 329,000, an increase of 24,000 from the previous week's revised level. There were no special factors impacting this week's initial claims.
Central Bank of Turkey Leaves Main Rates on Hold  
The Monetary Policy Committee decided on April 24th, 2014, to leave the one-week repo rate on hold at 10.0 percent for the third straight meeting. The Central Bank said it will maintain the current policy stance until there is a significant improvement in the outlook for inflation.
Swiss Trade Surplus Narrows Further in March  
The trade surplus decreased 10.6 percent in March of 2014 from the previous month to CHF 2.1 billion as imports rose at a higher pace than exports. Compared with a year earlier, the trade balance increased by 17.2 percent, driven by stronger sales of pharmaceuticals and chemicals products, and machinery to Europe and China.
Polish Unemployment Rate Falls in March  
Poland’s jobless rate dropped for the second straight month in March of 2014 to 13.5 percent, down from 13.9 percent in February and below market forecasts. A year earlier, unemployment was recorded at 14.3 percent.
South Korean Economy Expands at a Fastest Pace  
In the first quarter of 2014, South Korea’s GDP accelerated for the fourth straight quarter to an annual 3.9 percent growth rate, driven by exports.
South Korea GDP Growth Beats Expectations in Q1  
South Korean GDP expanded a seasonally adjusted 0.9 percent on quarter in the first three months of 2014, the same rate recorded in the previous quarter and above market expectations.
Reserve Bank of New Zealand Increases Interest Rate to 3.0%  
At its April 23rd, 2014 meeting, the Reserve Bank of New Zealand lifted the benchmark interest rate for the second straight meeting by 25 bps to 3.0 percent, as inflationary pressures were increasing and were expected to continue doing so over the next two years.
US New Home Sales Fall Sharply in March  
Sales of new single-family houses dropped 14.5 percent in March of 2014 to their lowest level in eight months. Sales were recorded at a seasonally adjusted annual rate of 384,000, below the revised February rate of 449,000.
MORE TOP NEWS

OVERVIEW    |     WORLBANK    |     [+] Calendar    |     [+] Countries    |     [+] Indicators    |     News