Turkey’s external assets rise in April

By Tuba Sahin

ANKARA (AA) - Turkey's assets abroad increased one percent during January-April compared to the end of 2016 to reach $217.6 billion, the Turkish Central Bank revealed on Friday.

Overseas liabilities also rose by 8.8 percent to $623.8 billion during the same period, the bank added, putting Turkey’s April Net International Investment Position (NIIP) at -$406.2 billion, a 5.8 percent improvement on the same period last year.

The NIIP is a nation’s stock of foreign assets minus its foreign liabilities as well as the value of overseas assets owned by a country minus the value of foreign-owned domestic assets.

"As regards to sub-items under liabilities, direct investment at the end of April 2017 recorded $164.3 billion indicating [a] 20.3 percent increase in comparison to the end of the previous year, with the contribution of the changes in the market value and foreign exchange rates," the bank said.