Türkiye’s external assets rise to $342 billion as of June

ANKARA

Türkiye’s external assets stood at $341.7 billion as of June, indicating an increase of 2.7 percent compared to the end of 2023.

The country’s liabilities against non-residents recorded $670.2 billion, up 10.1 percent in the same period.

The net International Investment Position (IIP), defined as the difference between Türkiye’s external assets and liabilities, which was minus $275.9 billion at the end of last year, was minus $328.5 billion as of June, data from the Central Bank showed on Aug. 20.

“As regards to sub-items under assets, at the end of June 2024, reserve assets recorded $142.9 billion, indicating an increase of 1.4 percent, while other investments recorded $127.4 billion, an increase of 2.4 percent compared to the end of 2023,” the bank said in a statement.

On the liabilities side, direct investment — equity capital and other capital — surged 23.6 percent from the end of 2023 to $188 billion, with the contribution of the changes in the market value and foreign exchange rates.

Portfolio investments rose by 24.8 percent and recorded $119.7 billion. Non-residents’ equity holdings were $39.8 billion, reflecting an increase of 34.6 percent, while non-residents’ holdings of government domestic debt securities recorded $10.5 billion with an increase of 298.2 percent.

Outstanding eurobond holdings of nonresidents posted $44.4 billion, an increase of 4.5 percent from the end of 2023.

FX deposits of non-residents held within the resident banks recorded $40.8 billion at the end of June 2024, marking a decrease of 5.6 percent compared to the end of 2023 while Turkish Liras deposits increased by 30.5 percent to $22.2 billion.