The key facts

  • Turkey's external assets in August rose 6.1% to $445.2 billion
  • Liabilities to non-residents fell 1.1% to $809.7 billion
  • The Central Bank's reserve assets increased by $22.2 billion to $186.7 billion

Asset Growth and Decline in Liabilities

Turkey's external assets at the end of August reached $445.2 billion, 6.1% more than a month earlier, according to official data. The country's liabilities to non-residents over the same period decreased by 1.1% to $809.7 billion. The net international investment position — the difference between assets and liabilities — stood at minus $364.5 billion.

Structure of Assets

The Central Bank's reserve assets rose by $22.2 billion to $186.7 billion. Direct investment assets increased by 0.7% to $82.4 billion, financial derivatives by 51.9% to $3.8 billion, and other investment assets by 1% to $163.3 billion. At the same time, foreign currency deposits of resident banks fell by 2% to $43.8 billion.

Dynamics of Liabilities

On the liabilities side, direct investments decreased by 2.9% compared with the previous month to $225.9 billion, while portfolio investments grew by 2.8% to $164.7 billion.