Turkey increases foreign assets, liabilities
Baku, Azerbaijan, Feb. 23
By Anvar Mammadov, Rufiz Hafizoglu - Trend:
Turkey’s foreign assets amounted to $228 billion in 2017, which is 5.8 percent more than at the end of 2016, according to the Central Bank of Turkey.
Turkey’s foreign liabilities grew 17.1 percent and amounted to $681.3 billion in 2017.
According to the Central Bank, the net international investment position (NIIP, the difference between external financial assets and liabilities) of Turkey amounted to -$453.3 billion at the end of 2017. This is while the NIIP of Turkey amounted to -$366.2 billion at the end of 2016.
Turkey’s reserve assets increased during the reporting period by 1.3 percent to $107.7 billion, while other investments grew 12.6 percent (to $77 billion).
In the structure of liabilities, direct investments of Turkey grew 26.2 percent for the year (taking into account changes in the exchange rate) and amounted to $180.3 billion. Portfolio investments at the end of 2017 amounted to $177.3 billion with a 23.9 percent growth for the year.
According to the Central Bank, at the end of 2017, the loan portfolio of Turkish banks increased by 5.6 percent to $92.5 billion, while the aggregate loan portfolio of other financial institutions grew 10.4 percent and amounted to $109.1 billion.