The IIP deficit was $279.1 billion in December

The Central Bank of the Republic of Turkey (CBRT) announced the International Investment Position (IIP) data for the period of December 2022.

Consequently, in December, compared to the end of 2021, Turkey’s external assets increased by 5.7% to $304.7 billion, while its liabilities increased by 7.9% to $583.8 billion. Thus, the net IIP, defined as the difference between Turkey’s foreign assets and liabilities, stood at minus 279.1 billion dollars in December.

Net IIP stood at minus $252.7 billion at the end of 2021.

Reserve assets increased 15.8% in December compared to the end of 2021 to $128.7 billion, while other investments decreased 5.4% to $115.2 billion. In this period, banks’ foreign currency and Turkish lira cash and deposits, which are among the other investment subheadings, decreased by 12.7 percent to $45 billion.

Direct investments (capital and other capital) increased 17.6 percent in December compared to the end of 2021, to $166.4 billion, due to the effect of the variation in market value and the exchange rate.

PORTFOLIO INVESTMENTS DECREASE TO 94.2 BILLION DOLLARS

Portfolio investments decreased 2.2 percent in December compared to the end of 2021, to $94.2 billion.

In the same period, the stock of shares owned by non-residents increased by 56.1 percent to $28.8 billion, the stock of GDDS owned by non-residents decreased by 64.2 percent to $1.2 thousand billion, and the stock of Treasury bonds (after deducting the stock of bonds purchased by domestic residents) decreased by 7.5 percent to $41.9 billion.

Other investments reached 323.2 billion dollars in December, 6.6% more than at the end of 2021. In the same period, foreign currency deposits of non-residents in national banks increased 21.5 percent to 40.3 billion dollars, while TL deposits rose 35.1 percent to $13.1 billion.

While banks’ total loan stock decreased 11.4 percent to $57.4 billion, other sectors’ total loan stock increased 3.1 percent to $100.2 billion. (AA)