Türkiye’s current account posted a surplus of $2.72 billion in September, according to balance of payments data released by the Central Bank of the Republic of Türkiye (CBRT) on Friday morning, Anadolu Agency (AA), Sabah, CNBC-e and Foreks reported.
September was the second month in a row with a surplus: CNBC-e and Sabah reported that the August figure was a surplus of $4.05 billion, so the surplus narrowed month on month.
Excluding gold and energy, the current account showed a surplus of $7.342 billion in September, the reports said.
Tourism keeps services in the black
On the goods side, the trade deficit on a balance of payments basis was $3.642 billion. Services, however, brought in a net $9.014 billion. According to AA, Sabah and Foreks, travel contributed a net $6.573 billion, and transport $3.088 billion.
Over the past 12 months, the current account deficit stood at about $39.2 billion, the reports said. The annualised goods trade deficit was $76.8 billion, while the services surplus reached $66.1 billion. The 12-month primary income deficit was $26.3 billion.
Portfolio outflows and reserves
The financial account showed significant outflows in September. Sabah and Foreks reported a net portfolio outflow of $7.733 billion, as non-residents sold a net $5.859 billion of Turkish equities and investment funds and $495 million of domestic government bonds. Official reserves fell by a net $10.013 billion during the month, according to the same reports.
Net direct investment inflows were $859 million. Non-residents made net purchases of $290 million of real estate in Türkiye in September, while residents of Türkiye bought $183 million of property abroad, Sabah and Foreks reported (for the rules on such purchases, see our guide to buying property in Türkiye as a foreigner).
Crypto assets counted for the first time
The September release was the first to include crypto asset transactions in the balance of payments statistics. Residents made net sales of $21 million of crypto assets and bought $49 million of stablecoins, AA and Sabah reported.
Related: the central bank’s latest Inflation Report and its decision this week to raise loan growth caps.
Sources
- Cari işlemler eylülde 2 milyar 720 milyon dolar fazla verdi, kripto ilk kez sayıldı (Haberler.com / AA)
- Türkiye Eylülde 2,72 milyar dolar cari fazla verdi (Sabah)
- Merkez Bankası açıkladı: Eylülde 2,72 milyar dolar cari fazla verildi (CNBC-e)
- YENİLEME- Cari işlemler hesabı eylülde 2 milyar 720 milyon dolar fazla verdi (Foreks)
Photo: Itidal / CC BY 4.0, via Wikimedia Commons
