Türkiye’s external assets rise to $367 billion as of October

ANKARA

Türkiye's external assets jumped 10.4 percent since the end of last year, reaching $367.2 billion in October 2024.

During the same period, liabilities rose by 1 percent, reaching a total of $656 billion.

The net International Investment Position (IIP), defined as the difference between Türkiye's external assets and liabilities, improved to -$288.9 billion in October. This marks a notable change from -$317 billion at the end of 2023.

Reserve assets grew by 13.4 percent to $159.8 billion, while other investments rose 7.4 percent to $133.4 billion. Within the other investments category, banks' foreign currency and Turkish Lira-denominated currency and deposits increased by 4.8 percent to $48.7 billion.

Direct investments decreased by 8.2 percent to $178.2 billion, primarily due to changes in market value and exchange rates.

Portfolio investments increased by 20.6 percent to reach $116.3 billion. Non-residents' stock investments grew 3.3 percent to $30.5 billion, and their holdings of government domestic debt securities amounted to $16.1 billion. The Treasury's bond stock, excluding bonds purchased by residents, decreased by 1.0 percent to $42.1 billion.

Other investments increased slightly by 0.7 percent to $361.5 billion. Non-residents' foreign currency deposits in domestic banks decreased by 6.1 percent to $40.6 billion, while their Turkish lira deposits surged by 37.4 percent to $23.4 billion.

The total loan stock of banks increased by 14.2 percent to $71.4 billion. Other sectors saw a marginal increase in their total loan stock, rising 0.1 percent to $99.9 billion.