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TURKEY: Current Account Surplus Widens to $566m in July

TURKEY
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  • Turkey’s current account surplus widened to $566m in July from a revised $330m in June, broadly in-line with expectations (Est: +$600m). That marks the widest surplus since September 2023. Seasonal flows from summer tourists likely boosted the flow of money into the country, while a deficit of more than $5bn was recorded for goods.
  • China has strongly advised its carmakers to make sure advanced electric vehicle technology stays in the country, Bloomberg report, citing people familiar with the matter. That follows decisions by some companies, such as BYD and Chery Automobile, to invest abroad. In July, BYD signed a deal worth about $1bn to build a plant in Turkey.
  • The main opposition Republican People's Party (CHP) is mobilising its senior members and deputies to prepare for a potential early general election, Hurriyet report citing “media reports”. The move comes after CHP leader Ozgur Ozel called for early elections during a speech over the weekend. "If you are ready to face us in November 2025, the CHP is here," he said.
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  • Turkey’s current account surplus widened to $566m in July from a revised $330m in June, broadly in-line with expectations (Est: +$600m). That marks the widest surplus since September 2023. Seasonal flows from summer tourists likely boosted the flow of money into the country, while a deficit of more than $5bn was recorded for goods.
  • China has strongly advised its carmakers to make sure advanced electric vehicle technology stays in the country, Bloomberg report, citing people familiar with the matter. That follows decisions by some companies, such as BYD and Chery Automobile, to invest abroad. In July, BYD signed a deal worth about $1bn to build a plant in Turkey.
  • The main opposition Republican People's Party (CHP) is mobilising its senior members and deputies to prepare for a potential early general election, Hurriyet report citing “media reports”. The move comes after CHP leader Ozgur Ozel called for early elections during a speech over the weekend. "If you are ready to face us in November 2025, the CHP is here," he said.