Türkiye’s external assets rise to $327 billion

Türkiye's external assets stood at $326.9 billion at the end of 2023, indicating an increase of 6 percent compared to the previous year, the Central Bank said on Feb. 20.

Liabilities against nonresidents declined by 2 percent to $612.1 billion.

The net International Investment Position (IIP), defined as the difference between Türkiye's external assets and liabilities, posted minus $285.2 billion at the end of December 2023, against minus $316.1 billion at the end of 2022.

"As regards to sub-items under assets, reserve assets recorded $140.9 billion, indicating an increase of 9.4 percent, while other investments inched up 0.2 percent to $121.1 billion," the bank said.

Under liabilities, direct investments - equity capital and other capital - were $158.6 billion at the end of December 2023, indicating a 22.5 percent decrease from the end of the previous year, with the contribution of the changes in the market value and foreign exchange rates, it added.

Portfolio investments increased by 2.7 percent to $95.8 billion compared to the end of 2022, while nonresidents' equity holdings recorded $29.5 billion, reflecting an increase of 2.7 percent.

Nonresidents' holdings of government domestic debt securities rose 112 percent to $2.6 billion, while outstanding Eurobond holdings of nonresidents posted $42.5 billion with an increase of 1.4 percent, the Central Bank said.

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