The country’s liabilities against non-residents during the same period rose 2.6 percent to $614.5 billion.
The net international investment position (NIIP) the difference between external assets and liabilities was minus $385.9 billion, versus minus $345.8 billion over the same period in 2019.
As a snapshot in time, the NIIP, which can be either positive or negative, 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.
Reserve assets, a sub-item under assets, were $82.7 billion at the end of November, down 21.8 percent from the end of last year.
Other investments, another sub-item under assets, totaled $90.7 billion, also indicating a fall of 4.6 percent in the same period.
“Currency and deposits of banks, one of the sub-items of other investment, recorded $44.2 billion indicating a decrease of 6.9 percent compared to the end of 2019,” the Central Bank said.
On the liabilities side, direct investments equity capital plus other capital as of the end of November were $197.1 billion, up 20.5 percent, including the effects of changes in market value and foreign exchange rates.
Non-residents’ foreign exchange deposits were $32.6billion, down 5.4 percent in November versus the end of 2019.
The Central Bank added that Turkish lira deposits rose 8.8 percent to $14.8 billion.
It said banks’ total external loan stock amounted to $63 billion down 7.4 percent and total external loan stock of the other sectors was $95.2 billion, down 3.2 percent over the same period.
Hurriyet Daily News