May 24, 2022
International Investment Position Developments in Turkey
March 2022
According to the International Investment Position (IIP) at the end of March 2022, external assets recorded USD 286.5 billion indicating a decrease of 2.5 percent compared to the end of 2021 and liabilities against non-residents recorded USD 514.0 billion indicating a decrease of 1.7 percent.
The net IIP, defined as the difference between Turkey’s external assets and liabilities, posted USD -227.5 billion at the end of March 2022, in comparison to USD -228.8 billion observed at the end of 2021.
As regards to sub-items under assets, at the end of March 2022, reserve assets recorded USD 105.9 billion indicating a decrease of 4.7 percent, while other investment recorded USD 121.1 billion indicating a decrease of 0.6 percent compared to the end of 2021. Currency and deposits of banks, one of the sub-items of other investment, recorded USD 54.3 billion indicating an increase of 5.4 percent compared to the end of 2021.
As regards to sub-items under liabilities, direct investment (equity capital and other capital) at the end of March 2022 recorded USD 107.2 billion indicating 12.1 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 5.2 percent and recorded USD 91.0 billion compared to the end of 2021. Non-residents’ equity holdings recorded USD 18.4 billion reflecting a decrease of 0.4 percent compared to the end of 2021. Non-residents’ holdings of GDDS (Government Domestic Debt Securities) recorded USD 2.4 billion with a decrease of 31.1 percent. Outstanding eurobond holdings of nonresidents posted USD 43.2 billion with a decrease of 4.7 percent.
Other investment indicated an increase of 3.6 percent to USD 315.8 billion compared to the end of 2021. FX deposits of non-residents held within the resident banks recorded USD 35.9 billion at the end of March 2022, reflecting an increase of 3.0 percent compared to the end of 2021, and TL deposits increased by 21.7 percent recording USD 11.8 billion.
Total external loan stock of the banks recorded USD 65.7 billion decreasing by 1.4 percent compared to the end of 2021, and total external loan stock of the other sectors recorded USD 97.1 billion increasing by 0.3 percent.
Source: Central Bank of the Republic of Türkiye
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