Turkish January current account date to be released today.

By bne IntelliNews March 12, 2014

The Central Bank will release the current account (CA) data for January, today (March 12).

The markets are looking for a CA deficit of USD 5.2bn. The CA deficit stood at USD 5.81bn in January 2013 and if the CA shortfall figure comes in at USD 5.2bn as the markets expects this will point to a 10.5% y/y and 37.3% m/m decline. Turkey last year ran a CA deficit of USD 65bn (around 8% of its national income). In December 2013 alone, the CA shortfall was USD 8.3bn.

The CA deficit is expected to shrink this year as the economic growth slows and domestic demand weakens while trade deficit, the main driving force behind the CA shortfall, should be improving due to a weaker TRY and recovery in the EU, Turkey’s main trade partner. In January, Turkey’s foreign trade deficit fell 6.8% y/y to USD 6.8bn (market forecast: USD 7.3bn) as exports rose 8.6% y/y and imports increased only 2.6% y/y. The Turkish Exporters’ Assembly (TIM) reported that exports showed a 4.3% y/y increase in February.

Related Articles

Turkish prosecutors demand lifetime jail sentences for leaders of pro-Kurdish HDP

Turkish prosecutors have demanded up to a 143-year jail sentence for Selahattin Demirtas, co-leader of the pro-Kurdish HDP, party and 83 years for the other co-leader, Figen Yuksekdag, ... more

Turkish cargo plane crashes near Kyrgyz capital, killing at least 37

A Turkish cargo plane flying from Hong Kong crashed on January 16 near Kyrgyzstan’s capital Bishkek, killing at least 37. Operated by ACT Airlines, the ... more

Turkish lira’s free fall continues as economic and political worries weigh on sentiment

The collapse in the value of the Turkish lira accelerated on January 9 with the currency tumbling 2.3% against the dollar and finishing at an all-time low against the greenback by the end of the ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss