Net int'l investment position improves in October
The NIIP -- the difference between a country's external assets and liabilities -- was minus $341 billion as of the end of October, while it was minus $370.4 billion at the end of last year, according to the bank.
Turkey's foreign assets totaled $247.7 billion, rising 8.1, while its liabilities against non-residents amounted to $588.7 billion, down 1.8 percent during the same period.
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.
The bank data showed that Turkey's reserve assets widened 12.4 percent to hit $104.6 billion, and other investments in the same period rose 4.8 percent to $93 billion in October compared to the end of 2018.
The sub-item other investments, currency, and bank deposits amounted to $46.5 billion, indicating a 3.9 percent rise in the same period.
On the liabilities side, direct investment at the end of October hit $156.6 billion, going up 5.3 percent in comparison to the end last year "with the contribution of the changes in the market value and foreign exchange rates."
In 2018, the average USD/Turkish lira rate was around 4.82, while one dollar was exchanged for 5.79 Turkish lira on average this October.
"Total external loan stock of the banks recorded $69.1 billion decreasing by 15.3 percent compared to the end of 2018, and total external loan stock of the other sectors recorded $101.7 billion decreasing by 4.6 percent," the bank said.