British News Agency

Istanbul, October 18 (Hibya) - Direct investments into Turkey fell by 16.9 percent to 169.9 billion dollars in the first eight months of the year, while portfolio investments increased by 1.5 percent to 94.7 billion dollars over the same period, according to the data released by The Central Bank of the Republic of Turkey (CBRT).

According to the International Investment Position (IIP) at the end of August 2023, external assets recorded USD 305.1 billion, indicating a decrease of 1.1 percent compared to the end of 2022 and liabilities against non-residents recorded 608.2 billion dollars, indicating a decrease of 2.6 percent.

The net IIP, defined as the difference between Türkiye’s external assets and liabilities, posted a 303.1 billion dollar deficit at the end of August 2023, compared to a 316.3 billion dollar deficit observed at the end of 2022.

Regarding sub-items under assets, at the end of August 2023, reserve assets recorded 116.6 billion dollars, indicating a decrease of 9.4 percent, while other investments recorded 125.8 billion dollars, indicating an increase of 4.1 percent compared to the end of 2022.

Currency and deposits of banks, one of the sub-items of other investments, recorded 50.3 billion dollars, indicating an increase of 11.8 percent compared to the end of 2022.

As regards sub-items under liabilities, direct investment (equity capital and other capital) at the end of August 2023 recorded 169.9 billion dollars, indicating a 16.9 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 increased by 1.5 percent and recorded 94.7 billion dollars compared to the end of 2022. Non-residents’ equity holdings recorded 31.7 billion dollars, reflecting an increase of 10.2 percent compared to the end of 2022. Non-residents’ GDDS (Government Domestic Debt Securities) holdings recorded 1.2 billion dollars, with a decrease of 5.3 percent. Outstanding eurobond holdings of nonresidents posted 43.3 billion dollars, an increase of 3.3 percent.

Other investments indicated an increase of 5.1 percent to 343.6 billion dollars compared to the end of 2022. FX deposits of non-residents held within the resident banks recorded 41.8 billion dollars at the end of August 2023, reflecting an increase of 0.5 percent compared to the end of 2022. TL deposits increased by 10.5 percent, recording 15.6 billion.

The total external loan stock of the banks recorded 58.6 billion dollars, increasing by 4.1 percent compared to the end of 2022, and the total external loan stock of the other sectors recorded 100.2 billion dollars, decreasing by 0.3 percent.