NEWS Finance        18/11/2020

Turkey’s net international investment position is minus USD 368.5 billion as of September 2020

The Turkish Central Bank (TCMB) has reported Turkey's net international investment position (IIP) as minus USD 368.5 billion as of September 2020, an increase of 6.7% on the net IIP of minus USD 345.4 billion recorded at the end of 2019.   

 

External assets were USD 225 billion as of the end of September 2020, a 11.2% decrease on the figure as of 2019 yearend.

 

The Bank gave the following analysis of Turkey’s international investment position (IIP) as of September 2020:

 

International Investment Position Developments – September 2020

 

According to the International Investment Position (IIP) at the end of September 2020, external assets recorded USD 225.0 billion indicating a decrease of 11.2 percent compared to the end of 2019 and liabilities against non-residents recorded USD 593.5 billion indicating a decrease of 0.9 percent.

 

The net IIP, defined as the difference between Turkey’s external assets and liabilities, posted USD -368.5 billion at the end of September 2020, in comparison to USD -345.4 billion observed at the end of 2019.

 

As regards to sub-items under assets, at the end of September 2020, reserve assets recorded USD 79.7 billion indicating a decrease of 24.6 percent, while other investment recorded USD 90.8 billion indicating a decrease of 4.5 percent compared to the end of 2019. Currency and deposits of banks, one of the sub-items of other investment, recorded USD 48.0 billion indicating an increase of 1.1 percent compared to the end of 2019.

 

As regards to sub-items under liabilities, direct investment (equity capital and other capital) at the end of September 2020 recorded USD 185.4 billion indicating 13.4 percent 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 decreased by 21.7 percent and recorded USD 103.9 billion compared to the end of 2019. Non-residents’ equity holdings recorded USD 20.4 billion reflecting a decrease of 37.3 percent compared to the end of 2019. Non-residents’ holdings of GDDS (Government Domestic Debt Securities) recorded USD 5.7 billion with a decrease of 63.1 percent. Outstanding euro bond holdings of non-residents posted USD 45.8 billion with a decrease of 7.0 percent.

 

Other investment indicated an increase of 0.6 percent to USD 304.2 billion compared to the end of 2019. FX deposits of non-residents held within the resident banks recorded USD 33.0 billion at the end of September 2020, reflecting a decrease of 5.1 percent compared to the end of 2019, and TL deposits increased by 8.7 percent recording USD 14.8 billion.

 

Total external loan stock of the banks recorded USD 64.0 billion decreasing by 6.6 percent compared to the end of 2019, and total external loan stock of the other sectors recorded USD 93.0 billion decreasing by 4.2 percent.”



Turkey’s net minimum wage has been raised 21.56% to TL 2,825.90 (USD 380) as of 01.01.2021       Migration communication helpline 157 available for foreigners in Turkey       Read our homepage articles on developments in the Turkish economy       Turkey’s official annual inflation rate increases to 18.95% in July 2021       Turkey’s official unemployment rate decreases to 13.2% in May 2021       Read our BUSINESS section for latest sectoral and corporate news       Turkey’s population is 83,614,362 as of 2020 yearend       Foreigners visiting Turkey in 2020 falls by 71.7% to 12.7 million       Turkey’s private sector foreign debt is USD 173.9 billion as of 2020 yearend       Turkey’s economy grew by 1.8% in 2020       Foreign Direct Investment inflow to Turkey was USD 7.7 billion in 2020