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Net Investment Position Reaches Minus $438.2 Bln

18.09.2014 19:08

The net international investment position (NIIP) of Turkey had reached minus $438.2 billion by the end of July, ballooning by 11.3 percent in the first seven months of the year, according to data released by the Turkish Central Bank on Thursday. Turkey's NIIP -- the gap between an economy's external.

The net international investment position (NIIP) of Turkey had reached minus $438.2 billion by the end of July, ballooning by 11.3 percent in the first seven months of the year, according to data released by the Turkish Central Bank on Thursday.

Turkey's NIIP -- the gap between an economy's external financial assets and liabilities -- had been minus $393.7 billion at the end of 2013, increasing by $44.5 billion as of the end of July.

According to the latest data, Turkey's foreign assets decreased by 3.4 percent to $233 billion compared with the end of 2013, while its liabilities had increased by 8.4 percent to $671.4 by the end of July.

Regarding the main asset groups, reserve assets increased by $1.6 billion to $132.7 billion, while "other" investments increased by $3.5 billion to $63.8 billion in the same period.

In terms of the main liability groups, nonresidents' direct investment in Turkey in the form of equity capital and other capital surged 13.5 percent to $169.5 billion at the end of July of this year compared with the end of 2013. The increase was caused mostly by changes in market value and the foreign exchange rate, according to the central bank's report.

At the same time, portfolio investments as of the end of July rose by $29.4 billion over yearend 2013. In addition, the value of stock owned by nonresidents increased by 28.5 percent to $67.3 billion. "Other" investments rose by $2.6 billion over the same period.

However, foreign currency deposits of nonresidents in domestic banks showed a 4.3 percent decrease, to $35.3 billion, at the end of July. Turkish currency deposits increased by 12.6 percent to $12.4 billion.

The total of Turkey's short-term external debt maturing within one year reached $167.1 billion at the end of July, according to a Wednesday report from the central bank.

(Cihan/Today's Zaman)



 
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