Page 29 - TURKRptNov19

Turnover in the services sector rose 10.1% y/y while the trade sector saw a 6% y/y increase. Turnover in the construction and industry sectors decreased by 18% y/y and 0.1% y/y, respectively.
5.0​ External Sector & Trade 5.1​ External sector overview
TURKEY -Trade (USD mn)
2013
2014
2015
2016
2017
2018
Q1/19
H1
Jan-Aug
Balance on goods & services
-56,299
-36,918
-23,900
-25,629
-39,017
-16,085
324
2,974
8,315
(% of GDP)
-5.92
-3.95
-2.78
-2.97
-4.58
-2.12
-
-
-
Goods exports (BoP)
161,789
168,926
151,970
150,161
166,159
174,599
44,817
89,078
118,588
Goods imports (BoP)
241,706
232,519
200,098
191,053
225,114
216,515
47,851
97,187
130,823
Current account balance
-63,642
-43,610
-32,145
-33,139
-47,347
-27,031
-1,658
-2,729
1,012
(% of GDP)
-6.7
-4.67
-3.74
-3.84
-5.56
-3.63
-
-
-
Source: IntelliNews, national statistics, IMF
5.2​ Balance of payments, current account
Turkey's Balance of Payments
USD mn
Jan-Aug/2018
Jan-Aug2019
y/y
CURRENT ACCOUNT
-31,116
1,012
-
Exports
113,075
118,588
5%
Imports
153,348
130,823
-15%
Balance on Goods
-40,273
-12,235
-70%
Balance on Goods and Services
-23,913
8,315
-
Primary Income: Credit
3,906
3,999
2%
Primary Income: Debit
11,399
11,778
3%
FINANCIAL ACCOUNT
439
-586
-
FDI: Net incurrence of liabilities
7,332
6,389
-13%
Portfolio Investment: Net incurrence of liabilities
-1,709
4,309
-
Equity Securities
-1,281
434
-
Debt Securities
-428
3,875
-
Loans
-1,954
10,568
-
NET ERRORS AND OMISSSIONS
18,083
2,593
-86%
RESERVE ASSETS
-13,410
4,220
-
source: tcmb
29​ TURKEY Country Report​ November 2019 ​ ​www.intellinews.com