Türkiye's external assets rise to $378.4B in July

By Mucahithan Avcioglu

ISTANBUL (AA) - Türkiye's external assets totaled $378.4 billion as of the end of July, up 4.2% month-on-month, official figures from the Central Bank showed on Friday.

The country's liabilities against non-residents were at $722.3 billion, rising 3.4% compared to June, the bank said.

Türkiye’s net international investment position (NIIP) – assets minus liabilities – was at minus $343.9 billion, down by $9.4 billion on a monthly basis.

As for sub-items under assets, direct investments were at $70.6 billion, rising 1.1% month-on-month, while other investments totaled $134.3 billion, down 3.6%.

Reserve asset items were at $169.2 billion in July, surging 12.9%, while portfolio investments totaled $4.4 billion.

Foreign exchange deposits of resident banks held abroad were at $40.9 billion, reflecting a fall of 13.2% year-on-year.

As for sub-items under liabilities, direct investments under liabilities posted $220.5 billion by the end of July, falling 6%, "as a result of the increase in BIST 100 index value," the central bank said.

Portfolio investments under liabilities climbed 7.8% on an annual basis to $125.8 billion, while other investments rose 0.7% to reach $375.9 billion.