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Foreign investors investing in Turkey preferred the Turkish Lira more.
Foreign investors investing in Turkey preferred the Turkish Lira more.

19.10.2024 09:40

Turkey's net international investment position was minus 318.6 billion US dollars at the end of 2023, and it increased to minus 327.1 billion dollars by the end of August 2024. This data, which shows the difference between foreign assets and liabilities, was published by the Central Bank of the Republic of Turkey.

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The Central Bank of the Republic of Turkey (CBRT) announced the developments in the International Investment Position (IIP) for August. As of the end of August, according to the IIP data, Turkey's foreign assets increased by 5.8% to 351.9 billion USD compared to the end of 2023, while its liabilities rose by 4.2% to 679.0 billion USD.

6% INCREASE IN RESERVE ASSETS

The net IIP, defined as the difference between Turkey's foreign assets and its foreign liabilities, was minus 318.6 billion USD at the end of 2023, while it was minus 327.1 billion USD at the end of August 2024.

When examining the sub-items of assets, the reserve assets item increased by 6.0% to 149.4 billion USD compared to the end of 2023, while the other investments item rose by 4.6% to 130.1 billion USD. Among the sub-items of other investments, the foreign currency and Turkish Lira deposits and cash of banks increased by 7.8% to 50.2 billion USD.

DIRECT INVESTMENTS ALSO INCREASED

When examining the sub-items of liabilities, direct investments (equity and other capital) increased by 3.4% to 200.9 billion USD compared to the end of 2023, influenced by changes in market value and exchange rates.

FOREIGNERS PREFERRED TL MORE

Portfolio investments increased by 22.4% to 118.0 billion USD compared to the end of 2023. The stock of equities held by non-residents increased by 17.5% to 34.7 billion USD compared to the end of 2023, while the stock of government bonds (after deducting the stock purchased by domestic residents) reached 42.7 billion USD with a 0.4% increase. During the same period, other investments decreased by 0.1% to 360.1 billion USD compared to the end of 2023. The foreign currency deposits of non-residents in domestic banks decreased by 1.7% to 42.5 billion USD compared to the end of 2023, while TL deposits increased by 24.1% to 21.1 billion USD. The total loan stock of banks increased by 9.3% to 68.4 billion USD, while the total loan stock of other sectors rose by 0.3% to 101.5 billion USD.

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