2026.07.1307:21:53UTC+00Turkey Current Account Deficit Widens in May

Turkey's current account deficit widened to $1.46 billion in May 2026 from $1.11 billion a year earlier, exceeding market expectations of a $0.96 billion shortfall. The primary income deficit increased to $2.17 billion from $1.84 billion in May 2025, while the secondary income deficit also grew, to $0.16 billion from $0.03 billion.

By contrast, the goods trade deficit narrowed to $4.34 billion from $4.78 billion, and the surplus in the services account declined slightly to $5.21 billion from $5.55 billion. Excluding gold and energy, the current account recorded a surplus of $3.63 billion in May 2026, up marginally from $3.62 billion in the same month of the previous year.

Over the first five months of 2026, Turkey's cumulative current account deficit reached $30.68 billion, compared with $23.73 billion in the corresponding period of 2025.