April 19, 2023

International Investment Position Developments in Türkiye – February 2023

  • According to the International Investment Position (IIP) at the end of February 2023, external assets recorded USD 303.1 billion indicating a decrease of 2.3 percent compared to the end of 2022 and liabilities against non-residents recorded USD 570.2 billion indicating a decrease of 2.9 percent.
  • The net IIP, defined as the difference between Türkiye’s external assets and liabilities, posted USD -267.1 billion at the end of February 2023, in comparison to USD -276.9 billion observed at the end of 2022.
  • As regards to sub-items under assets, at the end of February 2023, reserve assets recorded USD 117.4 billion indicating a decrease of 8.8 percent, while other investment recorded USD 124.1 billion indicating an increase of  2.7 percent compared to the end of 2022. Currency and deposits of banks, one of the sub-items of other investment, recorded USD 49.1 billion indicating an increase of 9.2 percent compared to the end of 2022.
  • As regards to sub-items under liabilities, direct investment (equity capital and other capital) at the end of February 2023 recorded USD 147.1 billion indicating 11.5 percent decrease in comparison to the end of the previous year, with the contribution of the changes in the market value and foreign exchange rates.
  • Portfolio investment decreased by 1.4 percent and recorded USD 91.8 billion compared to the end of 2022. Non-residents’ equity holdings recorded USD 26.3 billion reflecting a decrease of 8.7 percent compared to the end of 2022. Non-residents’ holdings of GDDS (Government Domestic Debt Securities) recorded USD 1.3 billion with an increase of 4.3 percent. Outstanding eurobond holdings of nonresidents posted USD 44.8 billion with an increase of 6.9 percent.
  • Other investment indicated an increase of 1.0 percent to USD 331.3 billion compared to the end of 2022. FX deposits of non-residents held within the resident banks recorded USD 39.7 billion at the end of February 2023, reflecting a decrease of 1.5 percent compared to the end of 2022, and TL deposits increased by 21.2 percent recording USD 17.1 billion.
  • Total external loan stock of the banks recorded USD 56.4 billion decreasing by 1.3 percent compared to the end of 2022, and total external loan stock of the other sectors recorded USD 101.8 billion increasing by 0.3 percent.

Source: Central Bank of the Republic of Türkiye
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