Turkey's assets abroad total $250.2 bln in first quarter
The country’s liabilities against non-residents fell 8.6 percent to $589.5 billion during the January-March period.
The net international investment position (NIIP) – the gap between Turkey’s external assets and liabilities – narrowed in the first quarter, reaching minus $339.3 billion. The NIIP was minus $403.5 billion at the end of 2020.
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 country’s government, the private sector, and its citizens.
Reserve assets, a sub-item under assets, down 7.1 percent to $86.7 billion in the same period.
Other investments, another sub-item under assets, recorded $106.8 billion, indicating an increase of 15.6 percent in the January-March period compared to the end-2020.
On the liabilities side, direct investment – equity capital plus other capital – fell 23.2 percent to $163.7 billion “with the contribution of the changes in the market value and foreign exchange rates.
“FX (foreign exchange), deposits of non-residents held within the resident banks recorded $34.2 billion, reflecting an increase of 2.4 percent compared to the end of 2020,” the bank said.
“Turkish lira deposits decreased by 2.6 percent recording $15.3 billion,” it added.
The Central Bank said the total external loan stock of the banks amounted to $63.6 billion, a slight decrease of 0.9 percent, and the total external loan stock of the other sectors was $95.6 billion, declining 1.3 percent in the same period.