Turkey's net international investment position (NIIP) showed a recovery in July, shrinking 16.1 percent compared to the end of 2017, the Turkish Central Bank reported on Friday.
"External assets recorded $229.6 billion, indicating a decrease of 1.4 percent compared to the end of 2017, and liabilities against non-residents recorded $620.3 billion, indicating a decrease of 11.2 percent," the bank said in a statement.
According to official data, the gap between Turkey's assets abroad and liabilities -- the NIIP -- was minus $390.7 billion in July while it was minus $465.7 billion at the end of last year.
Showing a snapshot in time, 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.
Reserve assets went down 6.5 percent to hit $100.7 billion, while other investment rose 1.3 percent to $77.5 billion during the same period.
Currency and bank deposits, one of the sub-items of other investments, reached $34.9 billion at the end of this July.
On the liabilities side, direct investment -- equity capital plus other capital -- as of the end of July amounted to $141.9 billion, down 27.5 percent from the end of 2017 "with the contribution of the changes in the market value and foreign exchange rates," it said.
This January to July, the average U.S. dollar/Turkish lira exchange rate was around 4.22, while last year one dollar was exchanged for 3.625 Turkish liras on average.
"Total external loan stock of the banks recorded $92.6 billion, decreasing by 2.2 percent compared to the end of 2017, and total external loan stock of the other sectors recorded $111.1 billion, increasing by 2.8 percent," the bank added.