FX.co ★ Turkish Current Account Gap Largest in 8 Months

Turkey’s current account deficit widened to $7.25 billion in December 2025 from $4.72 billion in the same month a year earlier, significantly exceeding market expectations of $5.2 billion. This was the largest monthly deficit since April. The deterioration was driven mainly by a larger goods trade deficit, which expanded to $7.44 billion from $6.23 billion in December 2024, and a widening primary income deficit, which rose to $2.37 billion from $1.63 billion. At the same time, the secondary income balance shifted from a surplus of $0.11 billion to a deficit of $0.097 billion. The services surplus also narrowed, falling to $2.65 billion from $3.03 billion a year earlier. Excluding gold and energy, the current account showed a deficit of $0.96 billion. Over the full year 2025, Turkey’s current account deficit reached $25.21 billion, more than doubling the $10.42 billion gap recorded in 2024.