The Short-term External Debt Statistics, which are issued on a monthly basis, are primarily compiled from these resources:
- Banks’ monthly foreign exchange stock reports
- Private sector’s external debt monitoring system
- Import data from TURKSTAT for trade credits
- CBRT’s monthly foreign exchange reports
Short-Term External Debt Statistics Developments - November 2018
Short-term external debt stock recorded USD 116.5 billion at the end of November, indicating a decrease of 1.8 percent compared to the end of 2017. Specifically, in this period, banks’ short-term external debt stock decreased by 13.5 percent to USD 58.1 billion and other sectors’ short-term external debt stock increased by 3.2 percent to USD 52.4 billion.
Short-term FX loans of the banks received from abroad decreased by 33.9 percent to USD 11.6 billion. FX deposits of non-residents (except banking sector) within residents banks decreased by 6.1 percent in comparison to the end of 2017 recording USD 18.4 billion, and FX deposits of non-resident banks recorded USD 13.4 billion decreasing by 21 percent. In addition, non-residents’ Turkish lira deposits increased by 12.4 percent and recorded USD 14.8 billion.
Trade credits due to imports under other sectors recorded USD 39.8 billion reflecting a decrease of 2.2 percent compared to the end of 2017.
From the borrowers side, the short-term debt of public sector, which consists of public banks, increased by 4.9 percent to USD 23.2 billion and the short-term debt of private sector decreased by 8.9 percent to USD 87.4 billion compared to the end of 2017.
From the creditors side, short-term debt to monetary institutions under private creditors item decreased by 15.5 percent to USD 43.9 billion and short-term debt to non-monetary institutions increased by 8.3 percent to USD 70.8 billion. Short-term bond issues decreased by 42.3 percent to 64 million as of the end of November increasing from USD 111 million observed at the end of 2017. In the same period, short-term debt to official creditors recorded USD 1.7 billion.
As of end of November, the currency breakdown of short-term external debt stock composed of 47.8 percent US dollars, 29.5 percent euro, 20.4 percent Turkish lira and 2.3 percent other currencies.
Short-term external debt stock on a remaining maturity basis, calculated based on the external debt maturing within 1 year or less regarding of the original maturity, recorded USD 174.5 billion, of which USD 17.5 billion belongs to the resident banks and private sectors to the banks’ branches and affiliates abroad. From the borrowers side, public sector accounted for 18.4 percent, Central Bank accounted for 3.4 percent and private sector accounted 78.2 percent in total stock.