Turkey's external assets totaled $243.6 billion as of this February, the country's central bank announced Thursday.
External assets went up 4 percent since the end of 2018, while liabilities against non-residents surged 3.3 percent to $606.5 billion, said the Central Bank of the Republic of Turkey (CBRT).
"The NIIP [net international investment position], defined as the difference between Turkey's external assets and liabilities, posted minus $362.9 billion at the end of February 2019, in comparison to minus $353.1 billion observed at the end of 2018," 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 individual citizens. Reserve assets increased 7.6 percent to reach $100.1 billion, while other investment categories totaled $91.1 billion, up 2.3 percent.
"Currency and deposits of banks, one of the subitems of other investments, recorded $47.9 billion indicating an increase of 7.3 percent compared to the end of 2018," the bank noted. Direct investment – equity capital plus other capital – at the end of February rose by 4.5 percent to $141.8 billion versus the end of last year. Lenders' total external loan stock slipped to $79 billion last February, down 3.1 percent compared to the end of 2018. "Total external loan stock of the other sectors recorded $105.5 billion decreasing by 1.3 percent," it added.
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