Turkey: Current account records smaller surplus in October
Latest reading: The current account posted a USD 1.9 billion surplus in October, deteriorating from the USD 3.0 billion surplus posted in September (October 2023: USD 0.0 billion surplus). Meanwhile, the 12-month trailing current account deficit improved, coming in at USD 7.7 billion in October (September: USD 9.5 billion deficit).
The merchandise trade balance deteriorated from the previous month, recording a USD 3.5 billion deficit in October (September 2024: USD 3.1 billion deficit). Merchandise exports increased 4.9% on an annual basis in October (September: -0.3% year-on-year). Meanwhile, merchandise imports decreased 1.3% over the same month last year in October (September: -2.5% yoy), marking the strongest reading since April 2024.