Turkiye’s International Investment Position Data in January: Assets $324.5B, Liabilities $624.5B

As of the end of January, Turkiye’s foreign assets were $324.5 billion and its foreign liabilities were $624.5 billion.

The Central Bank of the Republic of Turkiye (CBRT) announced the International Investment Position (IIP) data for the January 2024 period.

Accordingly, in January 2024, compared to the same period of the previous year, Turkiye’s foreign assets decreased by 1.1% to $324.5 billion, and its liabilities increased by 1.9% to $624.5 billion. Thus, net IIP, defined as the difference between Turkiye’s foreign assets and liabilities, was at the level of minus $300 billion in January.

Net IIP was at minus $284.7 billion at the end of 2023.

The reserve assets item amounted to $133.9 billion in January, with a 5.0% decrease compared to the end of 2023, and other investments increased by 2.7% to $125.5 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 6.7% and reached $49.7 billion.

Direct investments (capital and other capital) increased by 6.4% compared to the end of 2023, reaching $168.5 billion, due to the impact of changes in market value and exchange rates.

Portfolio investments reached $100.4 billion

Portfolio investments increased by 4.7% on an annual basis as of the end of January, reaching $100.4 billion.

In the same period, the stock of non-residents increased by 12.0% to $33.1 billion, the stock of Government Domestic Debt Securities (GDDS) owned by non-residents increased by 5.9% to $2.8 billion, and the Treasury’s bond stock (after deducting the bond stock purchased by domestic residents) increased by 1.7% to $43.2 billion.

Other investments decreased by 0.8% to $355.5 billion in the relevant period. In the same period, foreign currency deposits of non-residents in domestic banks decreased by 1.9% to $42.4 billion, while TL deposits increased by 10.2% to $18.8 billion.

The credit stock of banks increased by 0.7% to $63.7 billion, and the total credit stock of other sectors decreased by 2.1% to $98.3 billion.

Source: Trthaber / Prepared by Irem Yildiz

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