Balance of Payments - February 2025
Alper Gürler
alper.gurler@isbank.com.trH. Erhan Gül
erhan.gul@isbank.com.trDilek Sarsın Kaya
dilek.kaya@isbank.com.trBüşra Ceylan
busra.ceylan@isbank.com.trCurrent account deficit became 4.4 billion USD in February.
In February, current account posted a deficit of 4.4 billion USD, close to market expectations. In this period, balance of payments-defined foreign trade deficit widened by around 22% yoy while services revenues increased by 4.2% yoy. Thus, 12-month cumulative current account deficit widened for the fourth consecutive month and became 12.8 billion USD in February.
In February, net non-monetary gold imports reached the highest level since August 2023 with 1.9 billion USD. Net energy imports remained high with 4.7 billion USD in this period and the current account surplus excluding gold and energy was realized as 2.2 billion USD.
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