Turkey’s net international investment position gap widens

ANKARA

According to the International Investment Position (IIP) at the end of June 2013, external assets recorded $215.9 billion reflecting an increase of 1.5 percent compared to the end of 2012, and liabilities against non-residents recorded $636 billion indicating an increase of 0.6 percent, Turkey’s Central Bank announced today.

The net IIP, defined as the difference between Turkey’s external assets and liabilities, thus posted -$419.3 billion at the end of 2012, while it recorded -$420.2 billion at the end of June 2013.

As regards sub-items under assets, at the end of June 2013, reserve assets recorded $122.6 billion indicating an increase of $3.4 billion while other investment recorded a decrease of $1.6 billion compared to the end of 2012.

As regards sub-items under liabilities, inward direct investment of nonresidents (equity capital and other capital) at the end of June 2013 recorded $165.5 billion indicating 9.9 percent decrease in comparison to the end of the previous year due to the changes in the market value and foreign exchange rates.