International Investment Position

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The International Investment Position (IIP) is a quarterly (monthly as an indicator) statistical statement that shows the stock value of financial assets and liabilities of residents of an economy from non-residents, and financial assets kept as gold at a point in time.

The difference between total financial assets and total financial liabilities is the net IIP. In other words, the net position of total claims of Türkiye on non-residents vis-a-vis total liabilities of Türkiye to non-residents is the net IIP. The net IIP may either be positive or negative.

Data are available as time series in EVDS. Click here for access.

Data have been revised with the publication on 19 August 2021.

Detailed technical information on the revisions can be accessed from the Research Notes in Economics and CBRT Blog pages.

International Investment Position Developments - December 2023

  • According to the International Investment Position (IIP) at the end of December 2023, external assets recorded USD 326.9 billion indicating an increase of 6.0 percent compared to the end of 2022 and liabilities against non-residents recorded USD 612.1 billion indicating a decrease of 2.0 percent.
  • The net IIP, defined as the difference between Türkiye’s external assets and liabilities, posted USD -285.2 billion at the end of December 2023, in comparison to USD -316.1 billion observed at the end of 2022.
  • As regards to sub-items under assets, at the end of December 2023, reserve assets recorded USD 140.9 billion indicating an increase of 9.4 percent, while other investment recorded USD 121.1 billion indicating an increase of  0.2 percent compared to the end of 2022. Currency and deposits of banks, one of the sub-items of other investment, recorded USD 46.7 billion indicating an increase of 3.7 percent compared to the end of 2022.
  • As regards to sub-items under liabilities, direct investment (equity capital and other capital) at the end of December 2023 recorded USD 158.6 billion indicating 22.5 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 2.7 percent and recorded USD 95.8 billion compared to the end of 2022. Non-residents’ equity holdings recorded USD 29.5 billion reflecting an increase of 2.7 percent compared to the end of 2022. Non-residents’ holdings of GDDS (Government Domestic Debt Securities) recorded USD 2.6 billion with an increase of 111.6 percent. Outstanding eurobond holdings of nonresidents posted USD 42.5 billion with an increase of 1.4 percent.
  • Other investment indicated an increase of 9.5 percent to USD 357.7 billion compared to the end of 2022. FX deposits of non-residents held within the resident banks recorded USD 43.2 billion at the end of December 2023, reflecting an increase of 3.8 percent compared to the end of 2022, and TL deposits increased by 20.5 percent recording USD 17.0 billion.
  • Total external loan stock of the banks recorded USD 63.1 billion increasing by 12.3 percent compared to the end of 2022, and total external loan stock of the other sectors recorded USD 101.0 billion increasing by 0.7 percent.

Data - December 2023

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