External assets of Turkey increase

According to the International Investment Position (IIP) at the end of May 2013, external assets recorded USD 222.1 billion reflecting an increase of 4.5 percent compared to the end of 2012, and liabilities against non-residents recorded USD 667 billion indicating an increase of 5.5 percent. Turkish Central Bank published Turkey's report of IIP concering May 2013. The net IIP, defined as the difference between Turkey’s external assets and liabilities, posted USD -419.4 billion at the end of 2012, while recorded USD -444.9 billion at the end of May 2013. As regards to sub-items under assets, at the end of May 2013, reserve assets recorded USD 128.8 billion indicating an increase of USD 9.7 billion while other investment recorded an decrease of USD 1.3 billion compared to the end of 2012. Currency and deposits of banks, one of the sub-items of other investment, decreased by 8.2 percent to USD 22.1 billion compared to the end of 2012. As regards to sub-items under liabilities, inward direct investment of nonresidents (equity capital and other capital) at the end of May 2013 recorded USD 184.9billion indicating 0.6 percent increase in comparison to the end of the previous year due to the changes in the market value and foreign exchange rates.
Portfolio investment at the end of May 2013 increased by USD 16.5 billion compared to the end of 2012. Non-residents’ equity holdings recorded USD 74.8billion reflecting an increase of 5.9 percent compared to the end of 2012. Non-residents’ holdings of GDDS (Government Domestic Debt Securities), a sub-item under debt securities stock, recorded USD 67.2 billion with an increase of 7.1 percent. Eurobond stock of the Treasury (excluding the residents’ holdings) posted USD 32.7 billion.
Other investment at the end of May 2013 recorded an increase of USD 17.3 billion compared to the end of 2012. Total external loan stock of the banks recorded USD 73.3 billion at the end of May 2013 increasing by 12.9 percent compared to the end of 2012, while total external loan stock of the other sectors decreased by 2.2percent to USD 95.0 billion during the same period.
FX deposits of non-residents held within the resident banks recorded USD 34.5 billion at the end of May 2013, reflecting an increase of 26.0 percent to the end of 2012, while TL deposits decreased by 1.7 percent to USD 11.4 billion. Meanwhile, deposits of Turkish citizens residing abroad held within the Central Bank realized as USD 6.5 billion decreasing by 8.4 percent compared to the end of 2012.