Gap between assets abroad, liabilities widens from previous year to minus $279.1B, official data shows
Turkiye’s external assets rose 5.7% year-on-year to $304.7 billion at the end of 2022, according to official data released on Monday.
Liabilities against non-residents amounted to $583.8 billion at the end of last December, up by 7.9% compared to the end of 2021, the Turkish Central Bank data showed.
The net international investment position (NIIP), defined as the difference between Turkiye’s external assets and liabilities, reached minus $279.1 billion at the end of the last year versus minus $252.7 billion at the end of 2021.
Showing a snapshot in time, 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 its citizens.