Turkey's External Assets Increase At End-2019

Turkey's net international investment position (NIIP) improved as of the end of 2019 versus the end of previous year, as its assets abroad increased at a higher pace than liabilities against non-residents, official data showed Friday.

Turkey's assets abroad reached $250.6 billion at the end of last year, rising 9.4% from the end of 2018, the Turkish Central Bank said in a statement.

The country's liabilities against non residents rose slightly by 0.3% to hit $599.5 billion in the same period, bringing the NIIP – the gap between its external assets and liabilities – to minus $348.9 billion as of Dec. 31, down from minus $368.5 billion at the end of 2018.

The NIIP 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 were $105.5 billion at the end of last year, posting an increase of 13.4%, while other investments came in at $94.5 billion, up 6.5% during the same period. -