In the period October-December 2010, while external demand remained weak, domestic demand continued to enjoy a boom, resulting in expansion of the foreign trade deficit. Thus, according to the balance of payments definition, the foreign trade deficit which was USD 24.9 billion in 2009, reached USD 56.4 billion in 2010.
In line with the increased foreign trade deficit, the current account deficit, which had been USD 14 billion in 2009, became USD 48.6 billion in 2010. Besides, the nonenergy current account that had produced a surplus of USD 12 billion in 2009 posted a deficit of USD 14.6 billion in 2010.
As a result, the current account deficit in 2010 was recorded as USD 48.6 billion, which is 247% higher than the USD 14 billion deficit posted in 2009.
Current Account Balance in 1984-2010
Current Account Deficit/GDP
Financing of Current Account Deficit in 2002-2010
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