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Turkey's current account posted a surplus of $4.05 billion in August, according to balance of payments figures released by the Central Bank of the Republic of Turkey (TCMB). The surplus on the current account excluding gold and energy reached $8.205 billion, while the balance-of-payments-defined foreign trade deficit stood at $3.746 billion.

Annualized data showed a current account deficit of roughly $42.1 billion and a foreign trade deficit of $78.4 billion. The services balance registered a $63.9 billion surplus over the period, while the primary income balance showed a $25.6 billion deficit and the secondary income balance a $1.9 billion shortfall.

Net services inflows reached $9.711 billion in August, including $3.265 billion from transportation and $7.285 billion from travel. Direct investment brought in $141 million, portfolio investments recorded a $1.03 billion net outflow, and official reserves gained $7.138 billion. The central bank's net foreign currency reserves declined by $30.1 billion on an annualized basis.

Key Takeaways

• Turkey's current account surplus totaled $4.05 billion in August, and $8.205 billion excluding gold and energy.
• Annualized current account deficit stood at about $42.1 billion, with the services balance at a $63.9 billion surplus.
• Portfolio investments saw a $1.03 billion net outflow, while official reserves rose by $7.138 billion in August.