{"id":4848,"date":"2023-10-05T10:17:05","date_gmt":"2023-10-05T07:17:05","guid":{"rendered":"https:\/\/datakapital.com\/blog\/?p=4848"},"modified":"2025-08-18T18:30:04","modified_gmt":"2025-08-18T15:30:04","slug":"odemeler-dengesi","status":"publish","type":"post","link":"https:\/\/datakapital.com\/blog\/odemeler-dengesi\/","title":{"rendered":"\u00d6demeler Dengesi"},"content":{"rendered":"<p>Bir \u00fclkede bir y\u0131ldan fazla s\u00fcredir ikamet eden ki\u015filerin, kurumlar\u0131n ve \u00fclke h\u00fck\u00fcmetinin di\u011fer \u00fclkelerle bir y\u0131l i\u00e7inde ger\u00e7ekle\u015ftirdikleri ekonomik i\u015flemlerin i\u015flendi\u011fi tabloya \u00f6demeler dengesi denir. \u00d6demeler dengesi \u00fclkenin yurt d\u0131\u015f\u0131 ile bir y\u0131lda ger\u00e7ekle\u015ftirdikleri mal, hizmet, transfer ve varl\u0131k i\u015flemlerini yans\u0131t\u0131r.<\/p>\n<p>Bir \u00fclkede ki yerle\u015fiklerin yurt d\u0131\u015f\u0131na \u00f6deme yapmas\u0131n\u0131 gerektiren \u00f6rne\u011fin d\u0131\u015f alemden mal veya hizmet ya da tahvil sat\u0131n al\u0131nmas\u0131 gibi i\u015flemler, \u00f6demeler dengesinde negatif i\u015faret ile yer al\u0131r. Buna kar\u015f\u0131l\u0131k yurt d\u0131\u015f\u0131ndan \u00fclkeye \u00f6deme yap\u0131lmas\u0131n\u0131 gerektiren yani d\u0131\u015f aleme mal, hizmet veya tahvil sat\u0131lmas\u0131 gibi i\u015flemler, \u00f6demeler dengesinde pozitif i\u015faretle yer al\u0131r. \u00d6demeler dengesi d\u00f6rt ana hesap kaleminden olu\u015fur: <a href=\"https:\/\/www.tcmb.gov.tr\/wps\/wcm\/connect\/TR\/TCMB+TR\/Main+Menu\/Istatistikler\/Odemeler+Dengesi+ve+Ilgili+Istatistikler\/Odemeler+Dengesi+Istatistikleri\/\" target=\"_blank\" rel=\"noopener\">Cari hesap<\/a>, sermaye hesab\u0131, resmi rezerv hesab\u0131 ve net hata ve noksan.<\/p>\n<ul>\n<li><strong><u>Cari Hesap:<\/u><\/strong> Bu hesapta her \u015feyden \u00f6nce yabanc\u0131 \u00fclkelerle ger\u00e7ekle\u015ftirilen mal ve hizmet i\u015flemleri yer al\u0131r. Yani bu hesapta yap\u0131lan ihracat pozitif, ithalat ise negatif i\u015faretle g\u00f6sterilir. Mal ihracat ve ithalat\u0131n\u0131n toplam\u0131na \u2018<strong><em>ticaret dengesi\u2019<\/em><\/strong> Ticaret dengesinin pozitif olmas\u0131, \u00fclkenin yurt d\u0131\u015f\u0131na satt\u0131\u011f\u0131 mallar\u0131n de\u011ferinin yurt d\u0131\u015f\u0131ndan sat\u0131n ald\u0131\u011f\u0131 mallar\u0131n de\u011ferinden veya k\u0131saca ihracat\u0131n ithalattan b\u00fcy\u00fck oldu\u011fu anlam\u0131na gelir.<\/li>\n<\/ul>\n<p>Her \u00fclkede d\u0131\u015f alemle hizmet i\u015flemleri de ger\u00e7ekle\u015fir. Hizmet ticareti, turizm, ta\u015f\u0131mac\u0131l\u0131k, sigortac\u0131l\u0131k, e\u011fitim ve mali hizmetler gibi alanlardaki al\u0131\u015fveri\u015fleri kapsar. Yani bir \u0130ngiliz\u2019in T\u00fcrkiye\u2019ye gelip tatil yapmas\u0131 ya da bir mal\u0131n \u0130ngiltere\u2019ye T\u00fcrk gemileriyle ta\u015f\u0131nmas\u0131 cari hesapta pozitif i\u015faretle g\u00f6sterilir. Buna kar\u015f\u0131l\u0131k bir T\u00fcrk\u2019\u00fcn \u0130ngiltere\u2019ye gidip tatil yapmas\u0131 cari hesapta negatif i\u015faretle g\u00f6sterilir. Bir \u00fclkenin d\u0131\u015f alemle ger\u00e7ekle\u015ftirdi\u011fi mal ve hizmet i\u015flemlerinin toplam\u0131na, \u2018<strong><em>mal ve hizmet dengesi\u2019<\/em><\/strong> denir.\u00a0 Mal ve hizmet dengesinin pozitif olmas\u0131, \u00fclkenin yurt d\u0131\u015f\u0131na satt\u0131\u011f\u0131 mallar\u0131n ve hizmetlerin de\u011ferinin yurt d\u0131\u015f\u0131ndan sat\u0131n ald\u0131\u011f\u0131 mal ve hizmetlerin de\u011ferinden yani mal ve hizmet ihracat\u0131n\u0131n mal ve hizmet ithalat\u0131ndan b\u00fcy\u00fck olmas\u0131 demektir.<\/p>\n<p>Bir \u00fclkedeki ki\u015filer ve firmalar sahip olduklar\u0131 yabanc\u0131 varl\u0131klar kar\u015f\u0131l\u0131\u011f\u0131nda d\u0131\u015f alemden bir faiz ve kar geliri elde ederler. Benzer bir bi\u00e7imde di\u011fer \u00fclkelerdeki ki\u015filer ve firmalar sahip olduklar\u0131 \u00fclke varl\u0131klar\u0131 kar\u015f\u0131l\u0131\u011f\u0131nda \u00fclkeden bir faiz ve kar geliri elde ederler. Bu i\u015flemlere <strong><em>\u2018yat\u0131r\u0131m geliri\u2019<\/em><\/strong> denir.<\/p>\n<p>Cari hesab\u0131n kapsad\u0131\u011f\u0131 son i\u015flem t\u00fcr\u00fc, \u00fclkenin mal, hizmet ve varl\u0131k kar\u015f\u0131l\u0131\u011f\u0131 olmadan di\u011fer \u00fclkelere yapt\u0131\u011f\u0131 veya tam tersine di\u011fer \u00fclkelerin kar\u015f\u0131l\u0131ks\u0131z bir bi\u00e7imde \u00fclkeye yapt\u0131klar\u0131 \u00f6demelerdir. Bu t\u00fcr \u00f6demeler cari hesab\u0131n <strong><em>\u2018kar\u015f\u0131l\u0131ks\u0131z transferler\u2019 <\/em><\/strong>b\u00f6l\u00fcm\u00fcnde yer al\u0131r.<\/p>\n<p>Ayr\u0131ca net di\u011fer mallar ve hizmetler ile net kar\u015f\u0131l\u0131ks\u0131z transferlerin toplam\u0131na <strong><em>\u2018g\u00f6r\u00fcnmeyenler dengesi\u2019 <\/em><\/strong>denir. Ticaret dengesi ile g\u00f6r\u00fcnmeyenler dengesi toplam\u0131na <strong><em>\u2018<a href=\"https:\/\/datakapital.com\/blog\/turkiye-ozelinde-ana-akim-hibrit-politika-karsilastirmasi\/\">cari hesap dengesi<\/a>\u2019<\/em><\/strong> denir.<\/p>\n<ul>\n<li><strong><u>Sermaye Hesab\u0131: <\/u><\/strong>\u00dclkenin d\u0131\u015f alemle ger\u00e7ekle\u015ftirdi\u011fi varl\u0131k i\u015flemlerinin yer ald\u0131\u011f\u0131 hesapt\u0131r. Bir \u00fclkenin sahip oldu\u011fu varl\u0131klar\u0131 yurt d\u0131\u015f\u0131ndaki yerle\u015fiklere sat\u0131\u015f\u0131ndan ve yurt d\u0131\u015f\u0131nda ikamet edenlerin \u00fclkede a\u00e7t\u0131rd\u0131klar\u0131 banka mevduat hesaplar\u0131ndan elde etti\u011fi gelire, <strong><em>\u2018sermaye giri\u015fi\u2019<\/em><\/strong> Sermaye giri\u015fi sermaye hesab\u0131nda pozitif i\u015faretle g\u00f6sterilir. Tam tersi durum ise <strong><em>\u2018sermaye \u00e7\u0131k\u0131\u015f\u0131\u2019<\/em><\/strong> olarak adland\u0131r\u0131l\u0131r ve sermaye hesab\u0131nda negatif i\u015faretle g\u00f6sterilir. Sermaye giri\u015fi ve sermaye \u00e7\u0131k\u0131\u015f\u0131n\u0131n toplam\u0131na <strong><em>\u2018sermaye hesab\u0131 dengesi\u2019<\/em><\/strong> denir.<\/li>\n<li><strong><u>Resmi Rezerv Hareketleri:<\/u><\/strong> Resmi rezerv hareketleri hesab\u0131, merkez bankas\u0131 ve IMF g\u00f6zetiminde, \u00fclke y\u00f6netiminin elinde bulundurdu\u011fu alt\u0131n ve d\u00f6viz rezervlerinde meydana gelen de\u011fi\u015fmeleri yans\u0131tan hesapt\u0131r. Rezervlerinin artmas\u0131 ve azalmas\u0131, resmi rezerv hareketleri hesab\u0131 fazlas\u0131 ve resmi rezerv hareketleri hesab\u0131 a\u00e7\u0131\u011f\u0131 olarak isimlendirilir. Bir \u00fclkede ya\u015fayan ki\u015filer ve kurumlar yurt d\u0131\u015f\u0131ndan mal alabilirler ve bunun kar\u015f\u0131l\u0131\u011f\u0131nda ald\u0131klar\u0131 her \u015feyin fiyat\u0131n\u0131 \u00f6demek zorundad\u0131rlar. Dolay\u0131s\u0131yla cari i\u015flemler a\u00e7\u0131\u011f\u0131 olan bir \u00fclkede, cari i\u015flemler a\u00e7\u0131\u011f\u0131 her \u015feyden \u00f6nce sermaye hesab\u0131 fazlas\u0131 ile finanse edilir. Cari i\u015flemler a\u00e7\u0131\u011f\u0131n\u0131 finanse etmeye her zaman sermaye hesab\u0131 fazlas\u0131 yetmez. Bu gibi durumlarda kalan bakiye h\u00fck\u00fcmetin merkez bankas\u0131 kontrol\u00fcnde sahip oldu\u011fu d\u00f6viz rezervleriyle, k\u0131saca resmi d\u00f6viz rezervleriyle finanse edilir. Bu durumda \u00f6demeler dengesi daima dengededir.<\/li>\n<li><strong><u>Net Hata ve Noksan: <\/u><\/strong>Ger\u00e7ek hayatta cari hesaba ve sermaye hesab\u0131na ili\u015fkin veriler farkl\u0131 kurumlar taraf\u0131ndan olu\u015fturulur. Bu veriler temin edilirken yada de\u011ferlendirme a\u015famas\u0131nda bir eksiklik ve yahut bir gecikme olursa cari hesap, sermaye hesab\u0131 ve resmi rezerv hareketleri hesab\u0131 toplam\u0131 pratikte s\u0131f\u0131ra e\u015fit olmaz. Bu durum \u00f6demeler dengesinde net hata ve noksan olarak adland\u0131r\u0131l\u0131r.<\/li>\n<\/ul>\n<p>\u00d6demeler dengesi yaln\u0131zca muhasebe mant\u0131\u011f\u0131yla i\u015fleyen teknik bir tablo de\u011fil, ayn\u0131 zamanda bir \u00fclkenin ekonomik yap\u0131s\u0131n\u0131 ve uluslararas\u0131 ili\u015fkilerdeki pozisyonunu yans\u0131tan en \u00f6nemli g\u00f6stergelerden biridir. \u00c7\u00fcnk\u00fc bir \u00fclkede cari i\u015flemler fazlas\u0131 verilmesi, o \u00fclkenin d\u00fcnya pazar\u0131nda rekabet g\u00fcc\u00fcn\u00fcn y\u00fcksek oldu\u011funu ve ihracat\u0131n\u0131n ithalat\u0131ndan daha fazla oldu\u011funu g\u00f6sterirken, cari i\u015flemler a\u00e7\u0131\u011f\u0131 verilmesi d\u0131\u015f ticarette \u00fclkenin d\u0131\u015f kaynak ba\u011f\u0131ml\u0131l\u0131\u011f\u0131na i\u015faret eder. \u00d6zellikle geli\u015fmekte olan \u00fclkelerde s\u00fcrekli cari a\u00e7\u0131k verilmesi, sermaye giri\u015flerine ba\u011f\u0131ml\u0131l\u0131\u011f\u0131 art\u0131r\u0131r ve \u00fclke ekonomisini uluslararas\u0131 sermaye hareketlerindeki dalgalanmalara kar\u015f\u0131 daha k\u0131r\u0131lgan hale getirir.<\/p>\n<p data-start=\"779\" data-end=\"1436\">Sermaye hesab\u0131 a\u00e7\u0131s\u0131ndan bak\u0131ld\u0131\u011f\u0131nda, geli\u015fmi\u015f \u00fclkeler genellikle sermaye ihracat\u00e7\u0131s\u0131 konumunda iken, geli\u015fmekte olan \u00fclkeler sermaye ithalat\u00e7\u0131s\u0131 durumundad\u0131r. Yabanc\u0131 yat\u0131r\u0131mc\u0131lar\u0131n bir \u00fclkeye do\u011frudan yat\u0131r\u0131m yapmas\u0131, o \u00fclkenin ekonomisine olan g\u00fcvenin y\u00fcksek oldu\u011funun g\u00f6stergesi kabul edilir. Buna kar\u015f\u0131l\u0131k, k\u0131sa vadeli sermaye giri\u015fleri \u2013 yani s\u0131cak para \u2013 daha k\u0131r\u0131lgan bir yap\u0131 yaratabilir, \u00e7\u00fcnk\u00fc herhangi bir olumsuz geli\u015fmede h\u0131zla \u00e7\u0131k\u0131\u015f yaparak \u00f6demeler dengesi \u00fczerinde bask\u0131 olu\u015fturabilir. Bu nedenle, \u00f6demeler dengesi analiz edilirken sermaye giri\u015flerinin niteli\u011fi, yani do\u011frudan yat\u0131r\u0131m m\u0131 yoksa portf\u00f6y yat\u0131r\u0131m\u0131 m\u0131 oldu\u011fu b\u00fcy\u00fck \u00f6nem ta\u015f\u0131r.<\/p>\n<p data-start=\"1438\" data-end=\"2054\">Resmi rezerv hareketleri ise, \u00fclkenin para otoritesinin uluslararas\u0131 piyasalardaki dalgalanmalara kar\u015f\u0131 sahip oldu\u011fu manevra kabiliyetini g\u00f6sterir. Merkez bankalar\u0131n\u0131n rezervleri yaln\u0131zca cari i\u015flemler a\u00e7\u0131\u011f\u0131n\u0131n finansman\u0131nda de\u011fil, ayn\u0131 zamanda \u00fclkenin para biriminin istikrar\u0131n\u0131 korumada da kritik rol oynar. Yeterli d\u00f6viz rezervine sahip olmayan \u00fclkeler, ani sermaye \u00e7\u0131k\u0131\u015flar\u0131 veya d\u0131\u015f ticaret \u015foklar\u0131 kar\u015f\u0131s\u0131nda b\u00fcy\u00fck zorluklar ya\u015fayabilirler. Bu ba\u011flamda rezerv birikimi, \u00f6zellikle geli\u015fmekte olan ekonomilerde, \u00f6demeler dengesinin sa\u011fl\u0131kl\u0131 bir \u015fekilde y\u00f6netilmesi i\u00e7in temel bir g\u00fcvenlik arac\u0131 olarak g\u00f6r\u00fcl\u00fcr.<\/p>\n<p data-start=\"2056\" data-end=\"2543\">\u00d6demeler dengesinde yer alan &#8220;net hata ve noksan&#8221; kalemi de \u00e7o\u011fu zaman dikkat \u00e7eker. Bu kalem, kay\u0131td\u0131\u015f\u0131 sermaye hareketlerinin veya veri toplama s\u00fcre\u00e7lerindeki eksikliklerin bir yans\u0131mas\u0131d\u0131r. \u00d6zellikle geli\u015fmekte olan \u00fclkelerde y\u00fcksek net hata ve noksan rakamlar\u0131, sermaye giri\u015flerinin kay\u0131t alt\u0131na al\u0131nmad\u0131\u011f\u0131n\u0131 ya da ekonomide kay\u0131td\u0131\u015f\u0131 d\u00f6viz hareketlerinin yo\u011fun oldu\u011funu g\u00f6sterebilir. Bu durum, \u00f6demeler dengesinin \u015feffafl\u0131\u011f\u0131 ve g\u00fcvenilirli\u011fi a\u00e7\u0131s\u0131ndan soru i\u015faretleri do\u011furabilir.<\/p>\n<p data-start=\"2545\" data-end=\"3003\">Sonu\u00e7 olarak \u00f6demeler dengesi, yaln\u0131zca bir muhasebe tablosu de\u011fil, ayn\u0131 zamanda bir \u00fclkenin ekonomik sa\u011fl\u0131\u011f\u0131n\u0131n, d\u0131\u015fa ba\u011f\u0131ml\u0131l\u0131\u011f\u0131n\u0131n, rekabet g\u00fcc\u00fcn\u00fcn ve finansal istikrar\u0131n\u0131n bir aynas\u0131d\u0131r. Cari hesap, sermaye hesab\u0131 ve rezerv hareketleri aras\u0131ndaki ili\u015fkiler, h\u00fck\u00fcmetlerin ekonomi politikalar\u0131nda yol g\u00f6sterici bir ara\u00e7t\u0131r. Bu nedenle \u00f6demeler dengesi verilerinin dikkatle takip edilmesi, hem yat\u0131r\u0131mc\u0131lar hem de politika yap\u0131c\u0131lar i\u00e7in kritik \u00f6nemdedir.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bir \u00fclkede bir y\u0131ldan fazla s\u00fcredir ikamet eden ki\u015filerin, kurumlar\u0131n ve \u00fclke h\u00fck\u00fcmetinin di\u011fer \u00fclkelerle bir y\u0131l i\u00e7inde ger\u00e7ekle\u015ftirdikleri ekonomik i\u015flemlerin i\u015flendi\u011fi tabloya \u00f6demeler dengesi denir. \u00d6demeler dengesi \u00fclkenin yurt d\u0131\u015f\u0131 ile bir y\u0131lda ger\u00e7ekle\u015ftirdikleri mal, hizmet, transfer ve varl\u0131k i\u015flemlerini yans\u0131t\u0131r. Bir \u00fclkede ki yerle\u015fiklerin yurt d\u0131\u015f\u0131na \u00f6deme yapmas\u0131n\u0131 gerektiren \u00f6rne\u011fin d\u0131\u015f alemden mal<\/p>\n","protected":false},"author":12,"featured_media":4849,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,47],"tags":[216,452],"class_list":{"0":"post-4848","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-jeoekonomik-makro-veriler","8":"category-makro-ekonomik-analizler","9":"tag-cari-denge","10":"tag-ticaret-dengesi"},"better_featured_image":{"id":4849,"alt_text":"cari i\u015flemler dengesi","caption":"","description":"","media_type":"image","media_details":{"width":1280,"height":720,"file":"2023\/10\/Cari-Islemler-Dengesi.png","filesize":33164,"sizes":{"medium":{"file":"Cari-Islemler-Dengesi-300x169.png","width":300,"height":169,"mime-type":"image\/png","filesize":11229,"source_url":"https:\/\/datakapital.com\/blog\/wp-content\/uploads\/2023\/10\/Cari-Islemler-Dengesi-300x169.png"},"large":{"file":"Cari-Islemler-Dengesi-1024x576.png","width":1024,"height":576,"mime-type":"image\/png","filesize":54449,"source_url":"https:\/\/datakapital.com\/blog\/wp-content\/uploads\/2023\/10\/Cari-Islemler-Dengesi-1024x576.png"},"thumbnail":{"file":"Cari-Islemler-Dengesi-150x150.png","width":150,"height":150,"mime-type":"image\/png","filesize":5290,"source_url":"https:\/\/datakapital.com\/blog\/wp-content\/uploads\/2023\/10\/Cari-Islemler-Dengesi-150x150.png"},"medium_large":{"file":"Cari-Islemler-Dengesi-768x432.png","width":768,"height":432,"mime-type":"image\/png","filesize":36900,"source_url":"https:\/\/datakapital.com\/blog\/wp-content\/uploads\/2023\/10\/Cari-Islemler-Dengesi-768x432.png"},"bunyad-small":{"file":"Cari-Islemler-Dengesi-150x84.png","width":150,"height":84,"mime-type":"image\/png","filesize":4904,"source_url":"https:\/\/datakapital.com\/blog\/wp-content\/uploads\/2023\/10\/Cari-Islemler-Dengesi-150x84.png"},"bunyad-medium":{"file":"Cari-Islemler-Dengesi-450x253.png","width":450,"height":253,"mime-type":"image\/png","filesize":18720,"source_url":"https:\/\/datakapital.com\/blog\/wp-content\/uploads\/2023\/10\/Cari-Islemler-Dengesi-450x253.png"},"bunyad-full":{"file":"Cari-Islemler-Dengesi-1200x675.png","width":1200,"height":675,"mime-type":"image\/png","filesize":68475,"source_url":"https:\/\/datakapital.com\/blog\/wp-content\/uploads\/2023\/10\/Cari-Islemler-Dengesi-1200x675.png"},"bunyad-768":{"file":"Cari-Islemler-Dengesi-768x432.png","width":768,"height":432,"mime-type":"image\/png","filesize":36900,"source_url":"https:\/\/datakapital.com\/blog\/wp-content\/uploads\/2023\/10\/Cari-Islemler-Dengesi-768x432.png"}},"image_meta":{"aperture":"0","credit":"","camera":"","caption":"","created_timestamp":"0","copyright":"","focal_length":"0","iso":"0","shutter_speed":"0","title":"","orientation":"0","keywords":[]}},"post":4848,"source_url":"https:\/\/datakapital.com\/blog\/wp-content\/uploads\/2023\/10\/Cari-Islemler-Dengesi.png"},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/datakapital.com\/blog\/wp-json\/wp\/v2\/posts\/4848","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/datakapital.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/datakapital.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/datakapital.com\/blog\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/datakapital.com\/blog\/wp-json\/wp\/v2\/comments?post=4848"}],"version-history":[{"count":4,"href":"https:\/\/datakapital.com\/blog\/wp-json\/wp\/v2\/posts\/4848\/revisions"}],"predecessor-version":[{"id":5571,"href":"https:\/\/datakapital.com\/blog\/wp-json\/wp\/v2\/posts\/4848\/revisions\/5571"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/datakapital.com\/blog\/wp-json\/wp\/v2\/media\/4849"}],"wp:attachment":[{"href":"https:\/\/datakapital.com\/blog\/wp-json\/wp\/v2\/media?parent=4848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/datakapital.com\/blog\/wp-json\/wp\/v2\/categories?post=4848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/datakapital.com\/blog\/wp-json\/wp\/v2\/tags?post=4848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}