Türkiye's external assets at $337.3B as of May

By Gokhan Ergocun

ISTANBUL (AA) - Türkiye's external assets totaled $337.3 billion as of May, up 1.4% from the end of 2023, the Central Bank figures showed on Friday.

The country's liabilities against non-residents amounted to $670.9 billion with an increase of 10.2% over the same period.

The net international investment position — assets minus liabilities — posted minus $333.5 billion in May, versus minus $275.8 billion as of Dec. 31, the bank noted.

Reserve assets recorded $143.6 billion indicating an increase of 2%, while other investment recorded $123.2 billion indicating a decline of 1% compared to the end of 2023.

Currency and deposits of banks recorded $46.9 billion indicating an increase of 0.6% versus to the end of 2023.

Direct investment — under liabilities — recorded $189.7 billion indicating 24.7% increase in comparison to the end of the previous year, "with the contribution of the changes in the market value and foreign exchange rates."

Portfolio investment increased by 23.4% and recorded $118.3 billion compared to the end of 2023.

Total external loan stock of the banks was at $63.9 billion increasing by 1.9% compared to the end of 2023, and total external loan stock of the other sectors recorded $100.1 billion, decreasing by 0.9%.