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  • Economic Calendar Terms

    Current Account Deficit

    Central Bank of the
    Republic of Turkey
    stiklal Cad. 10 Ulus
    Ankara 06100
    90–312–310–3646

    The current account is the international flow of money for purposes other than investments. It offers a broad picture of how an economy is managing its finances with the rest of the world. If a country has a deficit in its current account it means that it has a saving deficit. The country is living above its means and is gradually becoming indebted to the world. The current account consists of the net total of: -(BOP) TRADE BALANCE: Export f.o.b. less Imports c.i.f. -(BOP) GENERAL GOVERNMENT: This covers all government current expenditure and receipts not appropriated to trade balance or to other transactions. -(BOP) TRANSPORT: Sea Transport and Civil Aviation: Receipts and payments for passenger fares, freight, charter hire, passage money, oil bunkers, airport charges and other disbursements. -(BOP) TRAVEL: The net value of Personal expenditure from tourism. -(BOP) FINANCIALS AND OTHER SERVICES -(BOP) INTEREST, PROFITS, AND DIVIDENDS -(BOP) TRANSFERS