Foreign assets stand at $303 billion

ANKARA

Türkiye’s foreign assets declined by 2.3 percent from the end of 2022 to stand at $303 billion as of February, the Central Bank has said.

Liabilities against non-residents fell by 2.9 percent over the same period to $570 billion.

“The net International Investment Position [IIP], defined as the difference between Türkiye’s external assets and liabilities, was minus $267.1 billion at the end of February 2023. At the end of 2022, the IIP was minus $276.9 billion,” the bank said in a statement on April 17.

Reserve assets declined 8.8 percent to $117.4 billion, while other investment increased 2.7 percent to $124.1 billion. Currency and deposits of banks, one of the sub-items of other investment, amounted to $49.1 billion, indicating an increase of 9.2 percent compared to the end of 2022.

“As regards to sub-items under liabilities, direct investment - equity capital and other capital - at the end of February 2023 recorded $147.1 billion, indicating an 11.5 percent decrease in comparison to the end of the previous year, with the contribution of the changes in the market value and foreign exchange rates.”

Portfolio investment decreased by 1.4 percent to $ 91.8 billion. Non-residents’ equity holdings were down 8.7 percent to $26.3, while their holdings of the government domestic debt securities (GDDS) increased 4.3 percent to $1.3 billion.