Turkeys foreign liabilities down in February
Gap between Turkeys assets abroad and liabilities hits -$402 billion in February.
Turkey's overseas liabilities decreased by 4.1 percent to $634 billion in February compared to the end of 2014, the Central Bank of Turkey has announced.
The bank said in a statement released on Thursday that the countrys assets abroad increased by 1 percent in February 2015 to reach $232.4 billion compared to the end of 2014, according to International Investment Position figures.
The net international investment position, NIIP the gap between Turkeys assets abroad and liabilities was recorded at -$402.1 billion in February.
By comparison, NIIP was recorded at -$431.6 billion at the end of 2014, compared to -$390 billion the previous year.
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 nations government, the private sector and its citizens.
Portfolio investments decreased by $8.5 billion in February 2015 and non-residents equity holdings were recorded at $57.5 billion, reflecting a decrease of 7.2 percent compared to the end of 2014.
Banks total external loan stock was $91.3 billion at the end of February 2015, a decrease of 3.6 percent from the end of 2014, while total external loan stock of other businesses decreased 2.1 percent to $91.3 billion during the same period.
Moreover, forex deposits of non-residents held in Turkish banks increased by 11 percent to $38.1 billion while non-residents lira deposits also decreased by 8.6 percent to $12.3 billion.
Anadolu Agency
The bank said in a statement released on Thursday that the countrys assets abroad increased by 1 percent in February 2015 to reach $232.4 billion compared to the end of 2014, according to International Investment Position figures.
The net international investment position, NIIP the gap between Turkeys assets abroad and liabilities was recorded at -$402.1 billion in February.
By comparison, NIIP was recorded at -$431.6 billion at the end of 2014, compared to -$390 billion the previous year.
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 nations government, the private sector and its citizens.
Portfolio investments decreased by $8.5 billion in February 2015 and non-residents equity holdings were recorded at $57.5 billion, reflecting a decrease of 7.2 percent compared to the end of 2014.
Banks total external loan stock was $91.3 billion at the end of February 2015, a decrease of 3.6 percent from the end of 2014, while total external loan stock of other businesses decreased 2.1 percent to $91.3 billion during the same period.
Moreover, forex deposits of non-residents held in Turkish banks increased by 11 percent to $38.1 billion while non-residents lira deposits also decreased by 8.6 percent to $12.3 billion.
Anadolu Agency