External assets increase 7 pct to reach $355 billion

ANKARA

Türkiye’s external assets increased by 6.7 percent from the end of 2023 to $354.8 billion as of the end of September, the Central Bank has said.

Over the same period, liabilities against nonresidents showed a 3.3 percent to stand at $673 billion.

The International Investment Position (IIP), defined as the difference between Türkiye’s external assets and liabilities, posted minus $318.1 billion in September against minus $318.6 billion at the end of last year, data from the bank showed on Nov. 19.

As regards sub-items under assets, reserve assets reached $152.1 billion, indicating an increase of 7.9 percent, while other investments recorded $129.8 billion, reflecting an increase of 4.5 percent compared to the end of 2023.

Portfolio investment rose by 23.6 percent to $119.1 billion.

Nonresidents’ equity holdings recorded $33.7 billion, reflecting an increase of 14.2 percent compared to the end of 2023, while their holdings of government domestic debt securities were at $15.8 billion.

Outstanding eurobond holdings of nonresidents posted $44.1 billion with an increase of 3.7 percent.

FX deposits of nonresidents held within the resident banks recorded $41.8 billion at the end of September 2024, reflecting a decrease of 3.2 percent compared to the end of 2023, and the Turkish Liras deposits increased by 27.8 percent recording $21.8 billion.