NET INTERNATIONAL INVESTMENT POSITION POSTS USD 224BN DEFICIT

The net international investment position (NIIP), defined as the difference between external assets and liabilities, posted a USD 224bn deficit in February, according to the Central Bank. The figure was USD 229.7bn at the end of 2021. Turkey’s external assets dropped by 1.6% to USD 288.1bn in February, compared to the end of last year. The country’s liabilities against non-residents fell 2.0% to USD 512.1bn in the same period. Portfolio investments decreased by 2.7% to USD 93.4bn in February, compared to the end of 2021. Other investments rose by 2.8% to USD 313.1bn in the same period. The total external loan stock of banks was at USD 65.8bn, down 1.2% from the end of 2021, while the total external loan stock of other sectors dropped 0.3% to USD 96.4bn.