Turkey's net international investment position (NIIP) improved in September as compared to the figures at the end of 2017, the country's central bank said yesterday.

The gap between Turkey's assets abroad and liabilities – the NIIP – narrowed 27 percent in September from the end of 2017, according to the Central Bank of the Republic of Turkey (CBRT).

The NIIP was minus $338.9 billion in the month while it was minus $461.8 billion at the end of last year.

"External assets recorded $226.3 billion indicating a decrease of 2.8 percent compared to the end of 2017 and liabilities against non-residents recorded $565.2 billion indicating a decrease of 18.6 percent," the bank said in a statement. 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. Turkey's reserve assets slipped 21.4 percent to reach $84.7 billion, while other investment rose 18.1 percent to $90.3 billion during the same period. "Currency and deposits of banks, one of the sub-items of other investment, recorded $47.9 billion indicating an increase of 37.2 percent compared to the end of 2017," the bank said.

On the liabilities side, direct investment – equity capital plus other capital – as of the end of September amounted to $112.3 billion, down 42.7 percent from the end of 2017 "with the contribution of the changes in the market value and foreign exchange rates," it added.

Total foreign loan stock of the banks reached to $85.8 billion, down 9.5 percent compared to the end of 2017 while total external loan stock of the other sectors was $110.1 billion, rising 1.7 percent.