Türkiye’s short-term external debt stock fell slightly to $165.7 billion (TL 7.08 trillion) at the end of October, according to official data released by the Turkish central bank on Thursday.

The figure was down by $21 million from September’s $169.8 billion, data from the Central Bank of the Republic of Türkiye (CBRT) revealed.

The banking sector’s short-term external debt increased 0.8% to $73.4 billion, while short-term external debt of other sectors dropped 0.7% to $64.7 billion in the same period.

Short-term foreign exchange (FX) loans that Turkish banks obtained from abroad decreased 16.7% to $7.8 billion, and FX deposits of non-residents held in resident banks fell 0.5% to $19.4 billion.

"FX deposits of non-residents (excluding banking sector) recorded $21.1 billion, increasing by 0.4%," the central bank said. "In addition, non-residents’ Turkish lira deposits increased by 9.2% and recorded $25.1 billion."

Trade credit liabilities linked to foreign trade transactions fell 0.7% to $59.2 billion, while liabilities stemming from cash loans decreased 1.1% to $5.5 billion.

The currency composition of the debt stock was 34.5% dollars, 26.8% euros, 23% Turkish liras and 15.7% other currencies.

On a remaining maturity basis, which includes external debt due within one year, Türkiye’s short-term external debt stock totaled $226 billion at the end of October.