External assets at $287 billion in March

ANKARA

Turkey’s external assets declined by 2.5 percent from the end of 2021 to stand at $286.5 billion as of end-March, the Central Bank said on May 24. 

Liabilities against non-residents were at $514 billion, indicating a decrease of 1.7 percent over the same period, showed the bank’s International Investment Position (IIP) report.

The net IIP, defined as the difference between Turkey’s external assets and liabilities, which was minus $228.8 billion at the end of 2021, was minus $227.5 billion as of March.

Reserve assets stood at $105.9 billion, falling by 4.7 percent, while other investments were $121.1 billion, declining by 0.6 percent compared to the end of 2021. Currency and deposits of banks, increased by 5.4 percent to $54.3 billion.

As regards to sub-items under liabilities, portfolio investment decreased by 5.2 percent from the end of 2021 to $91.0 billion, while non-residents’ equity holdings fell by 0.4 percent to $18.4 billion, the bank said.

Non-residents’ holdings of GDDS (government domestic debt securities) stood at $2.4 billioni indicating a decrease of 31.1 percent.