Türkiye Posts $5.45 Billion Current Account Surplus in August

Türkiye's current account balance registered a substantial surplus of $5.45 billion in August, according to data released by the Central Bank of the Republic of Türkiye on Monday. This performance builds on the previous month's surplus and aligns closely with market expectations, signaling a positive trend in the nation's external accounts.

The August surplus was largely powered by a formidable services sector, which generated net inflows of $9.5 billion. The travel industry emerged as a standout performer, contributing $7.66 billion in net revenues, while transportation services added another $2.77 billion. These gains effectively countered a goods deficit of $2.8 billion, resulting in the overall surplus for the month.

When gold and energy transactions are excluded, the underlying current account position reveals an even stronger net surplus of $10 billion. This core balance provides a clearer picture of the economy's fundamental external position, highlighting the significant contribution from non-energy service exports and other stable revenue streams.

For the January-August period, the cumulative current account deficit narrowed to $15.85 billion. During this eight-month span, the services sector maintained a robust net surplus of $41.23 billion, partially mitigating a goods deficit of $44.53 billion. The continued strength in services, particularly tourism, demonstrates the successful rebalancing of Türkiye's external accounts and reinforces the country's economic resilience.