External assets increase at the end of 2019
Turkey's net international investment position (NIIP) improved as of the end of 2019 versus the end of the previous year, as its assets abroad increased at a higher pace than liabilities against non-residents, official data showed on Feb. 21.
Turkey's assets abroad reached $250.6 billion at the end of last year, rising 9.4 percent from the end of 2018, the Turkish Central Bank said in a statement.
The country's liabilities against non-residents rose slightly by 0.3 percent to hit $599.5 billion in the same period, bringing the NIIP – the gap between its external assets and liabilities – to minus $348.9 billion as of Dec. 31, down from minus $368.5 billion at the end of 2018.
The NIIP 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 were $105.5 billion at the end of last year, posting an increase of 13.4 percent, while other investments came in at $94.5 billion, up 6.5 percent during the same period.