Turkey’s external assets down in 2014

Turkey’s assets abroad decreased by 1.6 percent at the end of March 2014 reaching $221.6 billion compared to end of 2013

Turkey’s assets abroad decreased by 1.6 percent at the end of March 2014 reaching $221.6 billion compared to end of 2013

ANKARA - Turkey’s assets abroad decreased by 1.6 percent at the end of March 2014 reaching $221.6 billion compared to the end of 2013.

A statement released by the Central Bank of Turkey (CBT) on Wednesday said liabilities decreased by 2.2 percent to reach $602.3 billion at the end of March, according to International Investment Position (IIP) figures. 

The Net International Investment Position (NIIP) - the gap between Turkey’s assets abroad and liabilities, was recorded at -$380.8 billion at the end of March 2014, compared to -$390.7 billion at the end of 2013.

In March 2013, portfolio investments decreased by $3.7 billion, and non-residents’ equity holdings were recorded at $53 billion, reflecting an increase of 1.2 percent compared to the end of 2013. 

Moreover, non-resident Turkish citizens’ foreign exchange deposit accounts with letters of credit at the Central Bank were calculated at $4.9 billion in March, decreasing by 7.1 percent compared to the end of 2013.

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