In his written statement, Bolat evaluated the April balance of payments data announced by the Central Bank of the Republic of Turkey (CBRT).
Bolat, who informed that the current account deficit was 5.7 billion dollars in April and the annualized current account deficit was 37 billion dollars, stated that there was a surplus of 29.4 billion dollars in the annualized current account account excluding gold and energy.
Bolat pointed out that, according to annualized data, the current account deficit has decreased for the first time since September 2025 and continued as follows:
“Service exports reached 122.3 billion dollars in April, with an annualized increase of 3.6 percent compared to the same month of the previous year. Travel revenues were 60.3 billion dollars in the said period, and our transportation revenues were 42.4 billion dollars. As of April, the total exports of goods and services increased by 4 percent compared to the previous year, reaching 398.2 billion dollars.”
Emphasizing that the approximately 30 percent decrease in the foreign trade deficit in April reflected positively on the current account deficit, Bolat stated that the 15.7 percent decrease in the foreign trade deficit in May is expected to make a similar contribution.
“TURKEY CAN STAND OUT AS A RELIABLE SUPPLIER”
Bolat pointed out that the current account deficit continues to remain below historical averages despite the increasing risks and uncertainties in the global conjuncture, and reminded that the ratio of the current account deficit to national income was 1.9 percent last year.
Stating that the rate in question shows that the performance below the historical average continues with 2.4 percent on an annualized basis in the first quarter of 2026, Bolat said:
“Although there may be additional pressures on the current account balance depending on the global conjuncture in 2026, Türkiye’s diversified export structure, expanding product range and developing technological capacity will contribute to keeping the possible deterioration under control and risks to remain at manageable levels at this stage. Moreover, if new breaks in global supply chains emerge, it seems possible for Türkiye to become a reliable supplier again and a more attractive center in terms of investment and logistics.”
Bolat underlined that, as the Ministry, they continue their efforts to limit the risks posed by geopolitical turmoil on foreign trade and to evaluate the emerging opportunities, adding that they will continue their efforts to increase the share of world trade with the vision of “high value-added and competitive exports” put forward by President Recep Tayyip Erdoğan, and that they will further the gains in the sustainable current account balance with steps to protect production against unfair imports.
