ANKARA
Turkey's liabilities outside of the country decreased by 7.1 percent to $612.2 billion in March, compared with that number at the end of 2014, the Central Bank of Turkey announced Monday.
The bank said in a statement that the country’s assets abroad also decreased by 0.6 percent in March 2015 to reach $230 billion, compared with that number at the end of 2014.
The net international investment position, NIIP – the gap between Turkey’s assets abroad and liabilities – was recorded at -$382.2 billion in February.
In comparison, NIIP was recorded at -$430.9 billion at the end of 2014, compared with -$390 billion in the previous year.
Turkey’s national income was $800 billion in 2014, and Turkey's debts were at 48.5 percent of the national income.
NIPP 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.
Portfolio investments decreased by $17.2 billion in March and non-residents’ equity holdings were recorded at $52 billion, a decrease of 15.9 percent compared with the end of 2014.
Banks’ total external loan stock was $92.1 billion at the end of March 2015, a decrease of 2.8 percent from that number at the end of 2014, while the total external loan stock of other businesses decreased 4.6 percent to $89.3 billion during the same period.
Moreover, forex deposits of non-residents held in Turkish banks increased by 11.3 percent to $38.1 billion while non-residents Turkish lira deposits also decreased by 4.1 percent to $12.9 billion.
