Turkey's external assets increased by 2.7 percent compared to last year: $341.7 billion
As of the end of June, Turkey's external assets were calculated at $341.7 billion, while its external liabilities were $670.2 billion.
The Central Bank of the Republic of Turkey (CBRT) has announced the International Investment Position (IIP) data for the June 2024 period.
Accordingly, Turkey's external assets in June 2024 increased by 2.7 percent compared to the end of last year to $341.7 billion, while its liabilities increased by 10.1 percent to $670.2 billion. Thus, the net IIP, defined as the "difference between Turkey's external assets and liabilities," stood at minus $328.5 billion in June.
The net IIP was at the level of minus $275.9 billion at the end of 2023.
The reserve assets item increased by 1.4 percent in June compared to the end of 2023 to $142.9 billion, and other investments increased by 2.4 percent to $127.4 billion. During this period, banks' effective and deposits in foreign currency and Turkish Lira, which are sub-items of the other investments category, increased by 9.8 percent to $51.2 billion.
Direct investments (capital and other capital) rose by 23.6 percent compared to the end of 2023 to $188 billion, also influenced by changes in market value and exchange rates.
PORTFOLIO INVESTMENTS ROSE TO $119 BILLION
Portfolio investments increased by 24.8 percent on an annual basis as of the end of June, reaching $119.7 billion.
In the same period, the stock of shares held by non-residents increased by 34.6 percent to $39.8 billion, the stock of Government Domestic Debt Securities owned by non-residents increased by 298.2 percent to $10.5 billion, and the Treasury's bond stock (after deducting the bond stock purchased by residents) increased by 4.5 percent to $44.4 billion.
Other investments increased by 0.5 percent in the relevant period to $362.4 billion. In the same period, foreign currency deposits of non-residents in domestic banks decreased by 5.6 percent to $40.8 billion, while Turkish Lira deposits increased by 30.5 percent to $22.2 billion.
The loan stock of banks rose by 5.8 percent to $66.3 billion, while the total loan stock of other sectors decreased by 1.1 percent to $100.1 billion.
News Source: 12punto
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