FX.co ★ Turkey Current Account Widens in February

Turkey's current account deficit expanded to $4.4 billion in February 2025, up from $3.3 billion in the same month of the previous year, surpassing market forecasts of a $4.3 billion deficit. The trade deficit in goods increased to $5.7 billion from $4.7 billion in February 2024, while the deficit in primary income rose to $1.1 billion from $0.9 billion. On the other hand, the surplus in the services account slightly increased to $2.5 billion in February 2025, compared to $2.4 billion the previous year. Additionally, the secondary income shifted from a deficit of $0.1 billion to a surplus of $0.03 billion. Over the first two months of the year, Turkey reported a current account deficit of $8.4 billion, significantly higher than the $5.6 billion recorded in the same period of the prior year.