Economy: Turkey achieves surplus of $1.9 billion in September, 2023

In September, a current surplus of $1.9 billion was achieved, exceeding market expectations. The net errors and omissions item recorded $208 million in September. The current account balance, in September, showed a surplus of $1.88 billion, exceeding market expectations after a three-month interval.

It was expected that the current balance would show a surplus of $1.4 billion due to the contraction in the trade deficit and tourism support.

The net errors and omissions item recorded $208 million in September, totaling $1.41 billion for the January-September period.

Core surplus: $7.1 billion

According to Central Bank data, the current account recorded a surplus of $1.876 billion in September. The current account, excluding gold and energy, showed a surplus of $7.118 billion. The defined foreign trade deficit in the balance of payments was $3.657 billion.

Entries from the services balance were recorded as $6.253 billion. Net income from the travel item under this category amounted to $5.033 billion.

The primary income balance recorded a net outflow of $851 million, while the secondary income balance recorded a net inflow of $131 million.