FX.co ★ Turkey Current Account Deficit Largest Since 2023

Turkey's current account deficit widened sharply to $9.7 billion in March 2026, up from $4.9 billion in the same month a year earlier. This was the largest shortfall since January 2023, driven mainly by a near-doubling of the goods trade deficit to $9.5 billion, compared with $4.9 billion in March 2025. The services surplus edged down slightly to $2.6 billion from $2.7 billion, while the secondary income deficit rose markedly to $0.2 billion from just $0.009 billion. By contrast, the primary income deficit narrowed slightly to $2.5 billion from $2.7 billion in March 2025. Excluding gold and energy, the current account deficit stood at $3.9 billion. Over the first quarter of 2026, Turkey posted a current account deficit of $23.7 billion, up from $14.1 billion in the same period a year earlier.