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Türkiye's Current Account Balance Sees USD25.2B Deficit
(MENAFN) Türkiye's current account gap ballooned to a $25.2 billion deficit in 2025, more than doubling from the previous year's shortfall, official figures released Friday reveal.
The Turkish Central Bank data showed the deficit surged from $10.4 billion recorded in 2024, representing a sharp 142% deterioration.
Monthly performance varied considerably, with four of twelve months posting surpluses throughout the year.
The merchandise trade gap reached $69.7 billion for 2025, though this was partially offset by a robust $63.5 billion net surplus in services. Primary income showed a $18.5 billion deficit, while secondary income posted a $528 million shortfall.
December alone witnessed a $7.25 billion deficit. When gold and energy components were stripped out, the account showed a comparatively modest $691 million gap for that month.
Goods trade produced a $7.44 billion deficit in December, counterbalanced by a $2.65 billion services surplus.
Turkish Finance Minister Mehmet Simsek maintained that sustainable equilibrium levels are being achieved despite turbulent international economic headwinds.
"The annual current account deficit as a percentage of national income, which reached 5% in mid-2023, decreased to 0.8% in 2024. We expect this ratio to be 1.6% in 2025," Simsek wrote on Turkish social media platform NSosyal.
The minister highlighted that gold—a preferred savings vehicle—significantly impacts the figures. Excluding this commodity, the deficit averaged 3% of national income during 2003-2023, contrasting with a 0.2% surplus in 2024. Projected GDP figures suggest approximately 0.3% deficit for 2025, he noted.
"Confidence in our program has strengthened access to external financing while costs have decreased. The external debt rollover ratios of the real sector and banks reached 221% and 218% respectively in 2025," Simsek said.
Foreign direct investment flows, excluding property transactions, climbed to a decade-high $10.7 billion in 2025—bolstering financing quality and expanding productive capacity, according to Simsek.
"We anticipate that the moderate trend in energy prices in 2026, the improving outlook in our main trading partners, and the supportive euro/dollar exchange rate will positively contribute to our sustainable current account balance target," he emphasized.
"We continue to implement structural steps that will make our gains in the current account balance permanent," Simsek added.
The Turkish Central Bank data showed the deficit surged from $10.4 billion recorded in 2024, representing a sharp 142% deterioration.
Monthly performance varied considerably, with four of twelve months posting surpluses throughout the year.
The merchandise trade gap reached $69.7 billion for 2025, though this was partially offset by a robust $63.5 billion net surplus in services. Primary income showed a $18.5 billion deficit, while secondary income posted a $528 million shortfall.
December alone witnessed a $7.25 billion deficit. When gold and energy components were stripped out, the account showed a comparatively modest $691 million gap for that month.
Goods trade produced a $7.44 billion deficit in December, counterbalanced by a $2.65 billion services surplus.
Turkish Finance Minister Mehmet Simsek maintained that sustainable equilibrium levels are being achieved despite turbulent international economic headwinds.
"The annual current account deficit as a percentage of national income, which reached 5% in mid-2023, decreased to 0.8% in 2024. We expect this ratio to be 1.6% in 2025," Simsek wrote on Turkish social media platform NSosyal.
The minister highlighted that gold—a preferred savings vehicle—significantly impacts the figures. Excluding this commodity, the deficit averaged 3% of national income during 2003-2023, contrasting with a 0.2% surplus in 2024. Projected GDP figures suggest approximately 0.3% deficit for 2025, he noted.
"Confidence in our program has strengthened access to external financing while costs have decreased. The external debt rollover ratios of the real sector and banks reached 221% and 218% respectively in 2025," Simsek said.
Foreign direct investment flows, excluding property transactions, climbed to a decade-high $10.7 billion in 2025—bolstering financing quality and expanding productive capacity, according to Simsek.
"We anticipate that the moderate trend in energy prices in 2026, the improving outlook in our main trading partners, and the supportive euro/dollar exchange rate will positively contribute to our sustainable current account balance target," he emphasized.
"We continue to implement structural steps that will make our gains in the current account balance permanent," Simsek added.
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