Turkey’s external assets up in December

By Fatih Dogan

ANKARA (AA) - Turkey’s foreign assets rose 2.1 percent year-on-year in December to reach $214.8 billion, the Central Bank said Monday.

At the same time, overseas liabilities fell by 3 percent to $570.8 billion, the bank added, putting Turkey’s December Net International Investment Position (NIIP) at -$356.1 billion, a 5.8 percent improvement on the same period last year.

The NIIP is a nation’s stock of foreign assets minus its foreign liabilities as well as the value of overseas assets owned by a country minus the value of foreign-owned domestic assets.