As of the end of December, Turkiye’s foreign assets were $326.9 billion and its foreign liabilities were $612.1 billion.
The Central Bank of the Republic of Turkiye (CBRT) announced the International Investment Position (IIP) data for the December 2023 period.
Accordingly, in December 2023, compared to the same period of the previous year, Turkiye’s foreign assets increased by 6% to $326.9 billion, and its liabilities decreased by 2% to $612.1 billion. Thus, net IIP, defined as the difference between Turkiye’s foreign assets and liabilities, was at the level of minus $285.2 billion in December.
Net IIP was at minus $316.1 billion at the end of 2022.
The reserve assets item increased by 9.4% compared to the end of 2022, reaching $140.9 billion in December, and other investments increased by 0.2%, reaching $121.1 billion. During this period, foreign currency and Turkish lira denominated assets and deposits of banks, which are sub-items of the other investments category, increased by 3.7% and reached $46.7 billion.
Direct investments (capital and other capital) decreased by 22.5% to $158.6 billion compared to the end of 2022, due to the effects of changes in market value and exchange rates.
Portfolio investments reached $95.8 billion
Portfolio investments increased by 2.7% on an annual basis by the end of 2023, reaching $95.8 billion.
In the same period, the stock of non-residents increased by 2.7% to $29.5 billion, The stock of Government Domestic Debt Securities (GDDS) owned by non-residents increased by 111.6% to $2.6 billion, and the Treasury’s bond stock (after deducting the bond stock purchased by domestic residents) increased by 1.4% to $42.5 billion.
Other investments reached $357.7 billion, an increase of 9.5% in the relevant period. In the same period, foreign currency deposits of non-residents in domestic banks increased by 3.8% to $43.2 billion, while TL deposits increased by 20.5% to $17 billion.
While the credit stock of banks increased by 12.3% and reached $63.1 billion, the total credit stock of other sectors increased by 0.7% to $101 billion.
Source: Trthaber / Prepared by Irem Yildiz