The International Investment Position (IIP) deficit narrowed to USD 295 billion in October.
The Central Bank of the Republic of Turkey (CBRT) announced the International Investment Position data for October.
According to the International Investment Position (IIP) at the end of October 2023, external assets recorded USD 308.6 billion indicating an increase of 0.1 percent compared to the end of 2022 and liabilities against non-residents recorded USD 603.5 billion indicating a decrease of 3.5 percent.
The net IIP, defined as the difference between Türkiye’s external assets and liabilities, posted USD -295.0 billion at the end of October 2023, in comparison to USD -317.1 billion observed at the end of 2022.
As regards to sub-items under assets, at the end of October 2023, reserve assets recorded USD 126.2 billion indicating a decrease of 2.0 percent, while other investment recorded USD 119.1 billion indicating a decrease of 1.5 percent compared to the end of 2022. Currency and deposits of banks, one of the sub-items of other investment, recorded USD 45.8 billion indicating an increase of 1.8 percent compared to the end of 2022.
As regards to sub-items under liabilities, direct investment (equity capital and other capital) at the end of October 2023 recorded USD 160.9 billion indicating 21.3 percent decrease 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 decreased by 0.5 percent and recorded USD 92.8 billion compared to the end of 2022. Non-residents’ equity holdings recorded USD 28.6 billion reflecting a decrease of 0.7 percent compared to the end of 2022. Non-residents’ holdings of GDDS (Government Domestic Debt Securities) recorded USD 1.1 billion with a decrease of 12.5 percent. Outstanding eurobond holdings of nonresidents posted USD 43.6 billion with an increase of 3.9 percent.
Other investment indicated an increase of 6.8 percent to USD 349.8 billion compared to the end of 2022. FX deposits of non-residents held within the resident banks recorded USD 41.0 billion at the end of October 2023, reflecting a decrease of 1.5 percent compared to the end of 2022, and TL deposits increased by 15.7 percent recording USD 16.3 billion.
Total external loan stock of the banks recorded USD 61.1 billion increasing by 8.6 percent compared to the end of 2022, and total external loan stock of the other sectors recorded USD 99.7 billion decreasing by 1.5 percent.
