“Income” increased 14 times and “Expense” increased 22 times in Freight Payment Balance.
“Income” increased 14 times and “Expense” increased 22 times in “Freight Payment” Balance between 1984 – 2019.
Source : CBRT Balance of Payments, November 2020 (2004 and later) and June 2017 (1984-2003)
- 2020 (November)
- x Million US Dollars
- Transportation consists of the %22passenger%22 item, which includes international passenger transportation, the %22Freight%22 item, which includes transportation data related to the trade of goods, and the %22Other%22 item, which includes services supporting transportation and postal and courier services. Freight service can be provided by people residing in an economy as well as by people residing abroad. However, in the freight services included in the balance of payments statistics, the transportation costs for export goods made by the residents of the country as income ; In the case of import goods , transportation costs incurred by persons residing abroad are recorded as expenses . Freight and insurance import values are estimated according to the estimation model created by TURKSTAT based on the freight and insurance costs declared according to the country of departure, the value of the goods transported, the type of goods transported and the country (flag) of the transporting vehicle included in the customs declarations. The total freight and insurance import value is obtained by combining the estimated and declared freight and insurance values.