Turkey ended 2021 with external assets worth USD 298.1bn, down 16.6% from the end of 2020, according to the Central Bank.
Liabilities against non-residents fell 17.5% to USD 528.3bn during the same period.
The net international investment position (NIIP) – the difference between external assets and liabilities – was minus USD 230.2bn at the end of December, versus minus USD 384.8 bn at the end of 2020.
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.
Reserve assets, a sub-item under assets, jumped 19.2% to USD 111.2bn, the data showed.
Other investments, another sub-item under assets, totaled USD 126.1bn with a rise of 16.4% from the end of 2020.
“Currency and deposits of banks, one of the sub-items of other investment, recorded USD 50.9bn, indicating an increase of 21.5% compared to the end of 2020,” the bank said.
On the liabilities side, direct investments – equity capital plus other capital – at the end of December 2021 amounted to USD 122.2bn.
The figure was down 47% from the end of the previous year “with the contribution of the changes in the market value and foreign exchange (FX) rates,” the bank said.
The USD/TRY was around 13.00 at the end of 2021, significantly higher than the figure of 7.35 at the end of 2020.
Non-residents’ FX deposits were up by 4.1% to USD 34.7bn, while TRY deposits dropped by 38.3% to USD 9.7bn.
The total external loan stock of banks amounted to USD 66.9bn, down 6.5% from the end of 2020, while total external loan stock of other sectors grew by 1% to USD 96.7bn, according to the Central Bank.