Will the Current Account Surplus be 5 Billion Dollars in August?

Trade Minister Ömer Bolat made remarkable statements regarding foreign trade and current account expectations for August. Based on preliminary data, a current account surplus of approximately 5 billion dollars is anticipated. This is considered an important development in terms of economic balances.

According to the data shared by Minister Bolat on his social media account, exports in August decreased by 1.2 percent compared to the same period last year, falling to 21.7 billion dollars. However, a significant increase in exports was observed when gold and energy were excluded. In this special group, exports increased by 0.9 percent to 20.3 billion dollars.

On the other hand, a distinct difference is noticeable in import figures. In the same period, imports decreased by 3.9 percent, falling to 25.9 billion dollars. This situation is evaluated as a positive development for Turkey's foreign trade balance.

These August data are interpreted as a signal of potential improvement in Turkey's current account balance. Particularly, the increase in exports excluding gold and energy reveals positive dynamics in the industrial and manufacturing sectors. The decline in imports indicates that domestic production is strengthening and external dependence is decreasing.

In this context, the current account surplus, which can affect Turkey's economic growth, is of critical importance, especially for foreign exchange reserves and the trade balance. The data announced by Minister Bolat may shape investors' expectations regarding the Turkish economy.