External assets reach $307 billion

External assets reach $307 billion

External assets reach $307 billion

Turkey’s external assets stood at $307.4 billion in November, 2021, indicating an increase of 20.3 percent from the end of 2020, the Central Bank’s the International Investment Position (IIP) data have shown.

Liabilities, on the other hand, against non-residents were $527.8 billion, risin 17.6 percent.

Consequently, the net IIP defined as the difference between Turkey’s external assets and liabilities, was minus $220.4 billion at the end of November 2021, whereas it was minus $384.9 billion in 2020.

As regards to sub-items under assets, rose nearly 35 percent to $125.6 billion , while other investments stood at $122.1 billion indicating an increase of 12.7 percent, the bank said.

Currency and deposits of banks, one of the sub-items of other investment, increased by 14.4 percent to $47.9 billion.

Portfolio investment dropped by 12.4 percent from end-202 to $ 99.0 billion.

Non-residents’ equity holdings stood at $19.6 billion, marking a decrease of 32.8 percent compared with end of 2020.

Non-residents’ holdings of GDDS (government domestic debt securities) were at $4, down 39.2 percent while outstanding eurobond holdings of nonresidents posted $45.9 billion with a decrease of 0.5 percent.

Separately, the bank reported on Jan. 17 that Turkey’s short-term external debt stock rose by 8.6 percent from end-2020 to hit USD 124.1 billion at the end of November last year.

Over the same period, banks’ short-term external debt stock decreased by 6.7 percent to $53.5 billion while other sectors’ short-term external debt stock increased by 25.4 percent to $44.5 billion.