Turkey: Financial openness
* indicates monthly or quarterly data series
| Turkey |
Financial openness index |
|---|---|
| Latest value | -1.242 |
| Year | 2021 |
| Measure | index points |
| Data availability | 1970 - 2021 |
| Average | -0.946 |
| Min - Max | -1.931 - -0.042 |
| Source | Chinn-Ito Index |
The latest value from 2021 is -1.242 index points, unchanged from -1.242 index points in 2020. In comparison, the world average is 0.322 index points, based on data from 176 countries. Historically, the average for Turkey from 1970 to 2021 is -0.946 index points. The minimum value, -1.931 index points, was reached in 1973 while the maximum of -0.042 index points was recorded in 2008.
See the global rankings for that indicator or
use the country comparator to compare trends over time.
Select indicator
* indicates monthly or quarterly data series
Recent data
Historical series
Definition: The Chinn-Ito index measures a country's degree of capital account openness and was introduced in Chinn and Ito (Journal of Development Economics, 2006). It is based on variables that codify the restrictions on cross-border financial transactions in the IMF's Annual Report on Exchange Arrangements and Exchange Restrictions. Higher values mean greater financial openness.
Selected articles from our guide:
What factors determine the exchange rates
International lending and sovereign debt
All articles
| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 88.64 | 2021 | percent |
| Trade openness | 66.96 | 2023 | percent |
| Financial openness | -1.242 | 2021 | index points |
| Exports, percent of GDP | 32.27 | 2023 | percent |
| Exports, billion dollars | 357.55 | 2023 | billion U.S. dollars |
| Growth of exports | -2.73 | 2023 | percent |
| Imports, percent of GDP | 34.69 | 2023 | percent |
| Imports, billion dollars | 384.42 | 2023 | billion U.S. dollars |
| Foreign Direct Investment, percent of GDP | 1.44 | 2022 | percent |
| Foreign Direct Investment, billion dollars | 13.67 | 2022 | billion U.S. dollars |
| Portfolio investment inflows, equities | 1,387.00 | 2023 | million dollars (current) |
| Current account, percent of GDP | -4.07 | 2023 | percent |
| Current account, in dollars | -44.96 | 2023 | billion U.S. dollars |
| Trade balance, percent of GDP | -4.00 | 2022 | percent |
| Trade balance, in dollars | -34.31 | 2023 | billion U.S. dollars |
| Reserves | 140.86 | 2023 | billion U.S. dollars |
| Remittances, percent of GDP | 0.08 | 2023 | percent |
| Remittances | 868.00 | 2023 | million U.S. dollars |
| Net errors and omissions | -9,127.00 | 2023 | million USD |
| External debt | 51.05 | 2022 | percent |
| Short-term external debt | 32.31 | 2022 | percent |
| Short-term debt to reserves | 119.78 | 2022 | percent |
| Foreign exchange reserves | 149.37 | 8/2024 | billion |