Turkish Economy Records Current Account Surplus in July

The Turkish economy posted a limited current account surplus of $36 million in July, while the twelve-month cumulative current account deficit rose to $40.7 billion. Excluding gold and energy, the balance recorded a surplus of approximately $5 billion.

July Current Account Balance Data

The Turkish economy recorded a current account surplus of $36 million in July. The current account balance had last posted a surplus of $477 million in October 2025.

While the total current account deficit in the first seven months of the year reached $34.8 billion, the twelve-month cumulative current account deficit rose to $40.7 billion.

Core Balance and Services Revenues

Excluding gold and energy, the current account balance recorded a surplus of approximately $5 billion in July, while the annualized core current account surplus fell to $27.8 billion.

Driven by the summer season, the services balance provided $8.2 billion in net income, with approximately $6 billion of this originating from travel revenues.

Capital Flows and Financing

In July, portfolio investments recorded a net inflow of $5.8 billion. Banks utilized $1.7 billion in net loans from abroad.

The General Government made a net repayment of $130 million, while official reserves experienced a net increase of $14.3 billion.

Ministry Statements and Year-End Expectations

Minister of Treasury and Finance Mehmet Şimşek and Minister of Trade Ömer Bolat made evaluations regarding external balance and structural transformation policies.

While year-end current account deficit estimates by brokerage houses ranged between $50 billion and $54 billion, increases in oil prices were cited among the risk factors.