The Turkish private sector's outstanding foreign loans shrank in June from the end of December 2018, the country's central bank reported Tuesday.

Excluding trade credits, the private sector's short-term loans received from abroad reached $12.4 billion as of June, down $3 billion from the end of 2018.

The liabilities of financial institutions constituted 72.9% of all short-term loans.

Broken down by currency, 47.6% of Turkey's private sector long-term debt was in U.S. dollars, with 33% in euros, 19.2% in Turkish liras and 0.2% in other currencies.

Central bank data showed the long-term debts of the sector during the same period also fell $7.8 billion to $201.7 billion. The bank said 47.6% of the total long-term foreign loans were owed by financial institutions.