Turkiye's assets abroad reach $307.4B in November 2021

Gap between external assets, liabilities narrowed to minus $220.4B, official data shows

By Tuba Sahin

ANKARA (AA) - Turkiye's external assets reached $307.4 billion by the end of November 2021, up 20.3% from end-2020, according to the Turkish Central Bank on Tuesday.

Liabilities against non-residents decreased 17.6% to $527.8 billion in the same period.

The net international investment position (NIIP) – the gap between Turkey’s external assets and liabilities – narrowed to minus $220.4 billion in November 2021, down from minus $384.9 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, soared 34.6% to $125.6 billion, the data showed.

Other investments, another sub-item under assets, totaled at $308.3 billion in November, a rise of 3.5% from the end of previous year.

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