CBRT announced: International investment position deficit rose to 300 billion dollars

The Central Bank of the Republic of Turkey (CBRT) has released its international investment position (IIP) data as of the end of January 2024. According to the data, Turkey's external assets decreased by 1.1 percent compared to the end of 2023 to 324.5 billion dollars, while its liabilities increased by 1.9 percent to 624.5 billion dollars.

DEFICIT INCREASED COMPARED TO 2023

The net IIP deficit, defined as the difference between Turkey's external assets and its liabilities to the rest of the world, was 284.7 billion dollars at the end of 2023 and reached 300 billion dollars at the end of January 2024.

RESERVE ASSETS DECREASED

When examining the sub-items of assets, the reserve assets item decreased by 5.0 percent compared to the end of 2023 to 133.9 billion dollars, while the other investments item increased by 2.7 percent to 125.5 billion dollars. Among the sub-items of other investments, banks' effective and deposits in foreign currency and Turkish lira were recorded as 49.7 billion dollars, an increase of 6.7 percent.

When examining the sub-items of liabilities, direct investments (capital and other capital) increased by 6.4 percent compared to the end of 2023 to 168.5 billion dollars, also influenced by changes in market value and exchange rates.

Portfolio investments increased by 4.7 percent compared to the end of 2023 to 100.4 billion dollars. While the stock of equities held by non-residents increased by 12 percent compared to the end of 2023 to 33.1 billion dollars, the stock of Government Domestic Debt Securities (GDDS) held by non-residents increased by 5.9 percent to 2.8 billion dollars, and the Treasury's bond stock (after deducting the bond stock purchased by residents) increased by 1.7 percent to 43.2 billion dollars.