External assets reach $296 billion

ANKARA

Türkiye’s external assets exhibited an increase of 2.7 percent from the end of 2021 to reach $296.1 billion as of the end of August, data from the Central Bank have shown.

Over the same period, liabilities against non-residents dropped by 4.6 percent to $519.2 billion. The net International Investment Position (IIP), defined as the difference between Türkiye’s external assets and liabilities, was minus $223.1 billion in August, in comparison to minus $256 billion at the end of 2021.

Reserve assets were $111.2 billion, while other investments stood at $126.2 billion, indicating an increase of 3.7 percent from the end of 2021.

Currency and deposits of banks fell by 0.3 percent to $51.4 billion.

On the liabilities side, direct investment - equity capital and other capital - declined by 18.6 percent to $115.5 billion at the end of August. Portfolio investment fell by 9 percent to $ 87.4 billion. Non-residents’ equity holdings recorded stood at $18.8 billion, marking an increase of 1.9 percent compared to the end of 2021.

Non-residents’ holdings of government domestic debt securities (GDDS) declined 59.5 percent to $1.4 billion, while outstanding eurobond holdings of nonresidents dropped 6.5 percent to $42.4 billion.

FX deposits of non-residents held within the resident banks stood at $37.8 billion at the end of August 2022, an increase of 8.4 percent compared to the end of 2021, and Turkish Lira deposits increased by 14.2 percent to $11.1 billion.

The total external loan stock of the banks declined by 7.9 percent to $61.3 billion, and the total external loan stock of the other sectors increased by 0.9 percent to $97.9 billion, data also showed.