The Turkish Central Bank (TCMB) has reported Turkey's net international investment position (IIP) as minus USD 378.9 billion as of July 2020, an increase of 10% on the net IIP of minus USD 344.5 billion recorded at the end of 2019.
External assets were USD 232.1 billion as of the end of July 2020, an 8.4% decrease on the figure as of 2019 yearend.
The Bank gave the following analysis of Turkey’s international investment position (IIP) as of July 2020:
“International Investment Position Developments – July 2020
According to the International Investment Position (IIP) at the end of July 2020, external assets recorded USD 232.1 billion indicating a decrease of 8.4 percent compared to the end of 2019 and liabilities against non-residents recorded USD 611.0 billion indicating an increase of 2.2 percent.
The net IIP, defined as the difference between Turkey’s external assets and liabilities, posted USD -378.9 billion at the end of July 2020, in comparison to USD -344.5 billion observed at the end of 2019.
As regards to sub-items under assets, at the end of July 2020, reserve assets recorded USD 90.3 billion indicating a decrease of 14.6 percent, while other investment recorded USD 88.1 billion indicating a decrease of 7.3 percent compared to the end of 2019. Currency and deposits of banks, one of the sub-items of other investment, recorded USD 46.7 billion indicating a decrease of 1.7 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 July 2020 recorded USD 201.8 billion indicating 23.3 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 17.5 percent and recorded USD 109.8 billion compared to the end of 2019. Non-residents’ equity holdings recorded USD 23.9 billion reflecting a decrease of 26.7 percent compared to the end of 2019. Non-residents’ holdings of GDDS (Government Domestic Debt Securities) recorded USD 6.6 billion with a decrease of 57.1 percent. Outstanding eurobond holdings of nonresidents posted USD 46.8 billion with a decrease of 4.8 percent.
Other investment indicated a decrease of 0.5 percent to USD 299.4 billion compared to the end of 2019. FX deposits of non-residents held within the resident banks recorded USD 32.6 billion at the end of July 2020, reflecting a decrease of 6.2 percent compared to the end of 2019, and TL deposits increased by 15.0 percent recording USD 15.7 billion.
Total external loan stock of the banks recorded USD 63.6 billion decreasing by 6.3 percent compared to the end of 2019, and total external loan stock of the other sectors recorded USD 93.3 billion decreasing by 3.0 percent.”