Turkey's external assets in June total $239.4B

Turkey's external assets in June total $239.4B

ANKARA- Anadolu Agency
Turkeys external assets in June total $239.4B

Turkey's external assets totaled $239.4 billion at the end of this June, the country's Central Bank (CBRT) reported on Aug. 22.     

The figure was up 4.5% from the end of last year.     

Liabilities against non-residents were $578.2 billion, indicating a fall of 3.2% during the same period.     

"The NIIP [net international investment position], defined as the difference between Turkey's external assets and liabilities, posted minus $338.8 billion at the end of June 2019, in comparison to minus $368.3 billion observed at the end of 2018," the CBRT said.     

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 country's reserve assets climbed 3.5% to $96.3 billion, while other investments amounted to $93.4 billion, rising 5.3% from end-2018.     

Currency and deposits of banks, one of the sub-items of other investments, totaled $48.5 billion, posting an increase of 8.5% in the same period of time.     

"As regards to sub-items under liabilities, direct investment (equity capital and other capital) at the end of June 2019 recorded $131.4 billion, indicating 8.4% decrease in comparison to the end of the last year, with the contribution of the changes in the market value and foreign exchange rates," the bank noted.     

Data showed that total external loan stock of lenders fell to $75.6 billion as of end-June, down 7.5% from the end of last year.     

"Total external loan stock of the other sectors recorded $102.7 billion, decreasing by 3.4%," the bank added.