Turkey’s external assets hit $234.2B in December 2018
Turkey’s assets abroad reached $234.2 b ll on at end-December, up 0.7 percent from the end of 2017, the Turk sh Central Bank reported on February 21. The country’s l ab l t es aga nst non-res dents sl pped 15.2 percent to h t $589.4 b ll on dur ng the same per od. Thus, Turkey’s net nternat onal nvestment pos t on (NIIP) - the gap between ts external assets and l ab l t es - totaled m nus $355.2 b ll on as of Dec. 31, down from m nus $462.6 b ll on at the end of the prev ous year. Reserve assets were $93 b ll on at the end of last year, a 13.6 percent decl ne, wh le other nvestments came n at $89.1 b ll on, r s ng 16.7 percent n the same per od. Currency and bank depos ts, one of the sub- tems of other nvestments, rose 27.7 percent to reach 44.6 b ll on. On the l ab l t es s de, d rect nvestment - equ ty cap tal plus other cap tal - at the end of 2018 was $136.1 b ll on, dropp ng 31.2 percent from the end of 2017 “w th the contr but on of the changes n the market value and fore gn exchange rates,” the Bank reported.