Türkiye's external assets marginally rise to $296.1B at end-August

By Tuba Sahin

ANKARA (AA) – Türkiye's external assets hit $296.1 billion in August, a rise of 2.7% from end-2021, according to the Turkish Central Bank.

Liabilities against non-residents fell 4.6% to $519.2 billion during the same period, the bank data showed on Tuesday.

The net international investment position (NIIP), defined as the difference between Türkiye's external assets and liabilities, reached to minus $223.1 billion at the end of August versus minus $256 billion at the end of last year.

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.