Türkiye’s external assets at $294 billion

ANKARA

Türkiye’s external assets stood at $293.5 billion as of June, declined by 4.8 percent from the end of 2022, data from the Central Bank have shown.

Liabilities against non-residents fell by 10.4 percent over the same period to $ 546.4 billion, the bank said on Aug. 18.

The net International Investment Position (IPP), defined as the difference between Türkiye’s external assets and liabilities, posted minus $252.9 billion at the end of June, whereas it was minus $ 301.6 billion at the end of 2022.

Under liabilities, direct investment -equity capital and other capital- stood at $118 billion, indicating 37.7 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 declined by 8.2 percent to $85.6 billion.

Non-residents’ equity holdings were at $22.5 billion, pointing to a decrease of 21.8 percent, while their holdings of GDDS -Government Domestic Debt Securities- declined by 29.1 percent to $0.9 billion.

Outstanding Eurobond holdings of nonresidents increased by 4.8 percent from the end of 2022 to amount to $43.9 billion as of June.

FX deposits of non-residents held within the resident banks stood at $41.9 billion, increasing 0.6 percent, while Turkish Liras deposits rose by 5.3 percent recording $14.9 billion.