(MENAFN) Based on the Turkish Central Bank statement on Tuesday, the country’s foreign assets totaled USD307.4 billion towards the end of November last year, increasing by 20.3 percent from the prior year’s ending. Liabilities against non-citizens dropped 17.6 percent to USD527.8 billion during the same time frame.
The net international investment position (NIIP), the gap between Turkey’s foreign assets and liabilities, plummeted to minus USD220.4 billion in November of last year, down from minus USD384.9 billion towards the end of the year earlier.
Displaying a brief moment in time, the NIIP, which can be either positive or negative, is the international assets worth owned by a country, minus the national assets worth owned by non-nationals, including foreign assets and liabilities organized by a nation’s government, the private sector, as well as its locals.
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