Turkey's international investment position improves in November
“The NIIP, the difference between Turkey’s external assets and liabilities, posted minus $357.5 billion at the end of November 2018, in comparison to minus $462 billion at the end of 2017,” the bank said.
The country’s assets abroad rose by 0.4 percent to reach $233.8 billion while liabilities against non-residents hit $591.2 billion, indicating a decrease of 14.9 percent during the same period.
Showing a snapshot in time, the NIIP, which can be either positive or negative, is the value of overseas assets owned by a nation, minus the value of domestic assets owned by foreigners, including overseas assets and liabilities held by a nation’s government, the private sector, and its citizens.
Reserve assets shrunk 15.5 percent to reach to $91 billion, while other investment totaled $90.9 billion, up 18.9 percent.
“Currency and deposits of banks, one of the sub-items of other investment, were $47 billion, indicating an increase of 34.4 percent compared to the end of 2017,” the bank noted.
Lenders’ total external loan stock slipped to $83.1 billion last November, down 12.4 percent compared to the end of 2017.
“Total external loan stock of the other sectors recorded $110.1 billion, increasing 1.6 percent.”