ECONOMIC OUTLOOK OF TURKEY
TURKEY - UK
Balance of Payments

The foreign trade deficit, according to the balance of payments presentation, increased to USD 46,727 million in 2007, an increase of 14.2 per cent over the previous year.

As regards the sub-items, imports in goods (CIF) including gold imports increased by 21.8 per cent to USD 169,987million, exports in goods (FOB) increased by 25.3 per cent to USD 107,154 million and shuttle trade revenues decreased by 6.3 per cent to USD 6,002 million.

Trade in services generated a surplus of USD 13,868 million in 2007 increasing 1.7 per cent over the previous year's figure of USD 13,831 million.

The financial account recorded a net capital inflow of USD 38,411 million in 2007 corresponding to 18.8 per cent increase over the previous year.

FDI (net) inflow in 2007 increased by 9.8 per cent over 2006 and reached USD 22.0 billion.

Official reserves, a sub-item under reserve assets, recorded an increase of USD 8,032 million in the twelve-month period of 2007, up from USD 6,114 million posted in the same period of 2006.

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