Türkiye’s external assets at $304 billion

ANKARA

Türkiye’s external assets stood at $304 billion in September, declining by 1.4 percent compared with the end of 2022, the Central Bank has said.

Liabilities against non-residents recorded were down 3.6 percent over the same period to $602.4 billion as of the end of September.

The net International Investment Position (IIP), defined as the difference between Türkiye’s external assets and liabilities, was minus $298.3 billion in September whereas it was minus $316.7 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 September 2023 recorded $163.3 billion indicating a 20.2 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 Central Bank said.

Portfolio investment increased by 3.5 percent from the end of 2022 and recorded $96.6 billion.

Non-residents’ equity holdings stood at $32.1 billion reflecting an increase of 11.4 percent while non-residents’ holdings of government domestic debt securities recorded $1.2 billion, a decrease of 7.3 percent.

Outstanding Eurobond holdings of non-residents posted $43.9 billion with an increase of 4.7 percent, said the bank.

FX deposits of non-residents held within the resident banks recorded $40.4 billion, indicating a decrease of 2.9 percent compared to the end of 2022, and their Turkish Liras deposits increased by 12.3 percent to $15.9 billion.