Türkiye's external assets up to $296.1B in October

By Gokhan Ergocun

ISTANBUL (AA) - Türkiye's external assets hit $296.1 billion in September, increasing 2.7% from end-2021, according to Turkish Central Bank data released on Monday.

Liabilities against non-residents went slightly up by 0.4% to $545.9 billion during the same period, the bank data showed.

The net international investment position (NIIP), defined as the difference between Türkiye's external assets and liabilities, reached minus $249.8 billion at the end of October versus minus $255.3 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.