The Net International Investment Position (IIP) reported a deficit of $352.4 billion in November 2016. According to the IIP, Turkey's external assets were recorded at $219.7 billion at the end of November 2016, marking a 4.5 percent increase while liabilities stood at $572.1 billion, indicating a 3 percent decrease.

A country's net IIP is defined as the difference between its external financial assets and its liabilities. Turkey's net IIP was at negative $379.8 billion at the end of 2015 and hovered around negative $352.4 billion at the end of Nov. 2016, according to a statement released by the Central Bank of the Republic of Turkey (CBRT).

The statement indicates that regarding sub-items under assets, reserve assets stood at $114.4 billion with an increase of 3.5 percent while other investments stood at $65.9 billion with an increase of 4.6 percent compared to the end of 2015. Currency and deposits of banks, another sub-item of other investments, increased by 15.8 percent to $26.9 billion compared to the end of 2015.

When it comes to the sub-items under liabilities, on the other hand, direct investment (equity capital and other capital) reached $124.6 billion by the end of Nov. 2016, decreasing by 15.8 percent compared to the end of the previous year due to market value changes and foreign exchange rates. The total external loan stock of the banks decreased by 2.6 percent to $90.6 billion at the end of November 2016 compared to the end of 2015 while the total external loan stock of other sectors reached $106.1 billion in the same period with an increase of 7.5 percent.