Turkey's net international investment position (NIIP) performed better in March, rising 5.4 percent compared to the end of last year, according to the Central Bank of the Republic of Turkey (CBRT) Monday.
The NIIP, the difference between a country's external assets and liabilities, came in at minus $337.1 billion as of March-end, up from minus $356.2 at the end of 2018, the CBRT reported.
Turkey's assets abroad increased by 4.6 percent to hit $241.7 billion during the same period. The country's liabilities against non-residents was around $578.8 billion in March, down 1.5 percent from the end of last year.
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.
Turkey's reserve assets rose 3.5 percent to reach $96.3 billion, while other investment stood at $92.3 billion, indicating a rise of 7.4 percent in the same period of time. Subitems of other investments, currency and deposits of banks amounted to $51.4 billion, increasing 15 percent compared to the end of 2018. "As regards to subitems under liabilities, direct investment at the end of March 2019 recorded $122.4 billion indicating 9.7 percent decrease in comparison to the end of last year, with the contribution of changes in the market value and foreign exchange rates," the bank said. Total external loan stock of lenders went down to $78.1 billion at March-end, falling 4.2 percent from the end of last year.
"Total external loan stock of the other sectors recorded $104.4 billion, decreasing by 2.4 percent," the bank added.