As of the end of October, Turkiye’s foreign assets were $308.6 billion and its foreign liabilities were $603.5 billion.
The Central Bank of the Republic of Turkiye (CBRT) announced the International Investment Position (IIP) data for the October 2023 period.
Accordingly, in October, compared to the end of 2022, Turkiye’s foreign assets increased by 0.1% to $308.6 billion, and its liabilities decreased by 3.5% to $603.5 billion. Thus, net IIP, defined as the difference between Turkiye’s foreign assets and liabilities, was at the level of minus $295 billion in October.
Net IIP was at minus $317.1 billion at the end of 2022
The reserve assets item decreased by 2% to $126.2 billion in October compared to the end of 2022, and the other investments item decreased by 1.5% to $119.1 billion. During this period, banks’ assets and deposits in foreign currency and Turkish lira, which are sub-items of other investments, increased by 1.8% and reached $45.8 billion.
Direct investments (capital and other capital) decreased by 21.3% to $160.9 billion in October compared to the end of 2022, due to the effects of changes in market value and exchange rates.
Portfolio investments reached $92.8 billion
Portfolio investments decreased by 0.5% in October compared to the end of 2022, falling to $92.8 billion.
In the same period, the stock stock of non-residents decreased by 0.7% to $28.6 billion, and the stock of Government Domestic Debt Securities (GDDS) owned by non-residents decreased by 12.5% to $1.1 billion. The Treasury’s bond stock (after deducting the bond stock purchased by domestic residents) increased by 3.9% to $43.6 billion.
Other investments reached $349.8 billion, an increase of 6.8% in the relevant period. In the same period, foreign currency deposits of non-residents in domestic banks decreased by 1.5% to $41 billion, while TL deposits increased by 15.7% to $16.3 billion.
While the total credit stock of banks increased by 8.6% to $61.1 billion, the total credit stock of other sectors decreased by 1.5% to $99.7 billion.
Source: AA / Prepared by Irem Yildiz