Turkish Economy - Balance of Payments

BALANCE OF PAYMENTS

The foreign trade deficit on goods, according to the balance of payments presentation, decreased to USD 24,729 million in 2009, a decrease of 53 per cent over the previous year.

As regards the sub-items, imports in goods (CIF) including gold imports decreased by 30.3 per cent to USD 140,776 million, exports in goods (FOB) decreased by 22.6 per cent to USD 102,165 million and shuttle trade revenues increased by 22.9 per cent to USD 4.8 billion.

Meanwhile, non-monetary gold indicated a surplus of USD 3,007 million in 2009, in contrast to USD 1,365 million deficit recorded in 2008.

Trade in services generated a surplus of USD 16,219 million in 2008 decreasing 5.3 per cent over the previous year's figure of USD 17,121 million.

The financial account recorded a net capital inflow of USD 5,417 million in 2009 corresponding to 85.1 per cent decrease over the previous year.

FDI (net) inflow in 2009 decreased by 58.4 per cent over 2008 and reached USD 7.597 billion.

Official reserves, a sub-item under reserve assets, recorded a decrease of USD 111 million in the twelve-month period of 2009, down from USD 1.057 billion posted in the same period of 2008.