Turkey’s external assets were $227.4 billion at the end of August, down 10.2% from the end of last year, the Turkish Central Bank announced Monday.
The country’s liabilities against non-residents also fell 1% to hit $592.2 billion during the same period.
SUB-ITEM UNDER ASSETS TOTALED 89.8 BILLION DOLLARS
The net international investment position (NIIP) — the difference between external assets and liabilities — was minus $364.8 billion at the end of August 2020, versus minus $344.7 billion at the end of 2019.
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.
Other investments, another sub-item under assets, totaled $89.8 billion, also indicating a fall of 5.6% in the same period. “Currency and deposits of banks, one of the sub-items of other investment, recorded $48.2 billion indicating an increase of 1.5% compared to the end of 2019,” the bank noted.
On the liabilities side, direct investments — equity capital plus other capital — as of the end of August were $182.8 billion. The figure was down 11.8% from the end of last year “with the contribution of the changes in the market value and foreign exchange rates.”