Turkey's assets abroad total $297B in August

Gap between external assets, liabilities decreased to minus $292.3B, official data shows

By Tuba Sahin

ANKARA (AA) – Turkey's external assets stood at $297.4 billion by the end of August, up 16.4% from the end of 2020, according to Turkish Central Bank data released on Monday.

Liabilities against non-residents fell 9.1% to $589.7 billion during the same period.

The net international investment position (NIIP) – the gap between Turkey’s external assets and liabilities – shrank to minus $292.3 billion in August.

The NIIP was minus $393.1 billion at the end of 2020.

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 country’s government, the private sector, and its citizens.

Reserve assets, a sub-item under assets, jumped 26.2% to $117.8 billion, the data showed.

Other investments, another sub-item under assets, stood at $121.1 billion in August, an 11.8% increase from the end of last year.

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