EXTERNAL ASSETS AT USD 228.6BN IN NOVEMBER

Turkey’s external assets slid to USD 228.6bn at the end of November, down 9.7% from 2019, according to Central Bank (CBRT) data. Liabilities against non-residents during the same period rose 2.6% to USD 614.5bn in the same period. The net international investment position (NIIP) – the difference between external assets and liabilities – was minus USD 385.9bn in 2020, versus minus USD 345.8bn over the same period in 2019. As 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. Reserve assets, a sub-item under assets, were USD 82.7bn at the end of November, down 21.8% from the end of last year. Other investments, another sub-item under assets, totaled USD 90.7bn, a fall of 4.6% in the same period. Currency and deposits of banks, one of the sub-items of other investments, recorded at USD 44.2bn, a decrease of 6.9% compared to the end of 2019, according to the CBRT.