Türkiye’s external assets at $299 billion: Data

ANKARA

Türkiye’s external assets stood at $289.7 billion as of July, declining by 3.1 percent from the end of 2022, the Central Bank data showed on Sept. 18.

Liabilities against non-residents fell by 5.7 percent to $USD 588.9 billion.

The net International Investment Position (IIP), defined as the difference between Türkiye’s external assets and liabilities, was minus $290 billion at the end of July against the minus $316 billion at the end of last year.

“As regards to sub-items under liabilities, direct investment - equity capital and other capital - at the end of July 2023 recorded $154.6 billion, indicating a 24.3 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,” the bank said.

Portfolio investment decreased by 3.6 percent to $89.9 billion compared to the end of 2022.

Non-residents’ equity holdings stood at 28.1 billion, reflecting a decrease of 2.3, while their holdings of government domestic debt securities fell by 32 percent to $800 million.

FX deposits of non-residents held within the resident banks were at $42.7 billion at the end of July 2023, reflecting an increase of 2.6 percent compared to the end of 2022, while their Turkish Liras deposits increased by 4.4 percent to $14.7 billion.