Gap between assets, liabilities abroad falls from end-2022 to minus $264.7B, official data shows
Türkiye’s external assets totaled $320.4 billion at the end of November 2023, up 3.9% from end-2022, according to official data released Friday.
Meanwhile, liabilities against non-residents fell 6.4% to $585.1 billion, Turkish Central Bank data showed.
The net international investment position (NIIP), defined as the difference between Türkiye’s external assets and liabilities, was at minus $264.7 billion at the end of November, narrowing by 16.5% from minus $317.1 billion at the end of last year.
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 citizens.
Source: aa