By Dilara Zengin
ANKARA (AA) – Turkey's external assets rose 8.4 percent in the first 10 months of this year to reach $233.5 billion compared to the end of 2016, Turkey's Central Bank announced on Friday.
The country's liabilities against non-residents also climbed 15.4 percent to $667.6 billion in the same period, bank data showed.
The net international investment position (NIIP) — the gap between Turkey’s assets abroad and liabilities — was minus $434.1 billion in October compared to minus $363.1 billion at the end of last year.
Reserve assets, a sub-item under assets, stood at $117.8 billion at the end of October, up 10.8 percent compared to the end of 2016, while other investments totalled $73.1 billion, a rise of 6.8 percent from the end of last year.
Currency and deposits of banks, a sub-item of other investments, came in at $32 billion, an increase of 6.8 percent in the same period, according to the bank.
On the liabilities side, direct investment — equity capital plus other capital — at the end of October rose 25.9 percent to $178.3 billion compared to the end of 2016 “with the contribution of the changes in the market value and foreign exchange rates, ” the Central Bank stated.
The bank also noted that banks’ total external loan stock stood at $89.2 billion as of this October, up 1.9 percent from the end of 2016. Other business sectors' total external loans climbed 7.9 percent to $108.4 billion over the same period.
