Central Bank of Turkey reports external assets amount to USD337B from May

(MENAFN) On Friday, the Central Bank of Türkiye reported that the country's external assets amounted to USD337.3 billion as of May 2024, marking a 1.4 percent increase from the end of 2023. This growth reflects a positive shift in Türkiye's external financial position over the early months of the year.

In contrast, Türkiye's liabilities to non-residents grew significantly, reaching USD670.9 billion, which represents a 10.2 percent increase compared to the end of the previous year. This rise in liabilities contributed to a deterioration in the net international investment position, which stood at minus USD333.5 billion in May, compared to minus USD275.8 billion as of December 31, 2023.

Reserve assets in Türkiye recorded a total of USD143.6 billion, reflecting a 2 percent increase. However, other investments decreased by 1 percent to USD123.2 billion when compared to the end of 2023. Bank currency and deposits showed a slight increase of 0.6 percent, reaching USD46.9 billion.

Direct investment under liabilities saw a significant rise of 24.7 percent, amounting to USD189.7 billion. This increase was attributed to changes in market value and foreign exchange rates. Similarly, portfolio investment grew by 23.4 percent, reaching USD118.3 billion, further illustrating a strong performance in this sector.

The total external loan stock for banks was reported at USD63.9 billion, which is a 1.9 percent increase from the end of 2023. In contrast, the total external loan stock for other sectors decreased by 0.9 percent, totaling USD100.1 billion. This mixed performance in external loans highlights varying trends in borrowing and investment activities across different sectors.

MENAFN21072024000045015839ID1108463458