Turkiye's external assets marginally fall to $287.3B at end-July

By Tuba Sahin

ANKARA (AA) – Türkiye's external assets reached $287.3 billion in July, falling 0.3% from the end of last year, according to data released by the Turkish Central Bank on Monday.

Liabilities against non-residents also decreased 7.3% to $504.6 billion during the same period.

The net international investment position (NIIP), defined as the difference between Türkiye's external assets and liabilities, amounted to minus $217.3 billion at the end of July, improved from minus $256 billion from end-2021.

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 nation's government, the private sector and its citizens.