Türkiye’s external assets rise to $308 billion

Türkiye’s external assets rise to $308 billion

ANKARA
Türkiye’s external assets rise to $308 billion

Türkiye’s external assets increased by 0.5 percent from the end of 2022 to amount to $307.6 billion as of March, according to the data from the Central Bank.

The country’s liabilities against non-residents fell by 5.4 percent over the same period to $555 billion.

The net International Investment Position (IIP), defined as the difference between Türkiye’s external assets and liabilities, posted minus $247.4 billion as of end-March versus minus $277.7 billion at the end of 2022.

“As regards sub-items under liabilities, direct investment - equity capital and other capital - recorded $123.3 billion, indicating a 25.7 percent decrease compared to the end of the previous year, with the contribution of the changes in the market value and foreign exchange rates,” the Central Bank said.

Portfolio investment decreased by 4.9 percent from the end of 2022 to $88.6 billion as of March. Non-residents’ equity holdings fell by 15.2 percent over the same period to $24.4 billion, while their holdings of government domestic debt securities (GDDS) were down 0.2 percent to $1.2 billion.

Outstanding eurobond holdings of non-residents posted $44.1 billion, with an increase of 5.1 percent, according to the bank.

FX deposits of non-residents held within the resident banks stood at $41.9 billion at the end of March 2023, reflecting an increase of 3.9 percent compared to the end of 2022, and the Turkish Lira deposits increased by 25.3 percent, recording $17.7 billion, the data also showed.

Economy,