Turkey’s external assets, liabilities rise first half

ANKARA (AA) - In the first six months of 2016 Turkey’s assets abroad rose 6.8 percent over the end of last year to reach $234 billion, said the Turkish Central Bank data Wednesday.

Liabilities also increased 4.5 percent to reach $612.9 billion in the first six months of 2016, according to Central Bank statistics.

The net international investment position or NIIP – the gap between Turkey’s assets abroad and liabilities – came close to $379 billion in June.

NIPP 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.

Turkey’s national income was close to $721 billion in 2015, and the country's debts were 34 percent of the national income.