Türkiye’s external assets at $287 billion

ANKARA

Türkiye’s external assets declined by 0.3 percent from the end of 2021 to stand at $287.3 billion as of end-July, data from the Central Bank showed.

Liabilities against non-residents recorded a decrease of 7.3 percent over the same period to $504.6 billion.

The net IIP (International Investment Position), defined as the difference between Türkiye’s external assets and liabilities, which was minus $256 billion at the end of last year, was minus $217.3 billion in July.

As regards to sub-items under assets, at the end of July 2022, reserve assets amounted to $101.3 billion indicating a decrease of 8.9 percent, while other investment increased by 4.9 percent to $127.6 billion, the bank said.

“Direct investments -equity capital and other capital- stood at $109.5 billion in July, declining 22.9 percent decrease from the end of the previous year, with the contribution of the changes in the market value and foreign exchange rates.”

Portfolio investment decreased by 11.6 percent to $84.9 billion compared to the end of 2021. Non-residents’ equity holdings amounted to $14.9 billion, reflecting a decrease of 19.4 percent, while non-residents’ holdings of GDDS (government domestic debt securities) weree $1.3 billion with a declined of 63.2 percent from the end of 2021.

Outstanding eurobond holdings of nonresidents stood at $43.5 billion, falling by 4.1 percent over the same period.

FX deposits of non-residents held within the resident banks were $37.3 billion at the end of July 2022, marking an increase of 7.1 percent compared to the end of 2021, and Turkish Lira deposits increased by 12.7 percent to $10.9 billion, the Central Bank said.