Latest payment balance data announced
According to the latest balance of payments data released by the Central Bank of the Republic of Turkey (CBRT), the current account in December 2024 showed a surplus of 4.65 billion dollars.
During the same period, the current account balance excluding gold and energy recorded a surplus of 2.466 billion dollars. However, the foreign trade deficit as part of the overall balance of payments stood at 6.243 billion dollars in December.
The balance of services saw a net inflow of 3.148 billion dollars, with transportation services bringing in 1.459 billion dollars and travel items contributing 2.142 billion dollars.
Additionally, there was a net outflow of 1.668 billion dollars in the primary income balance category, while the secondary income balance category showed a net inflow of 113 million dollars.
These figures indicate a mixed picture for Turkey’s external accounts in December, with the current account showing strength but the foreign trade deficit remaining a challenge. It will be interesting to see how these numbers evolve in the coming months and what implications they may have for the country’s economy.
