Turkey's assets abroad total $306.8B in October

Turkey's external assets stood at $306.8 billion by the end of October, up 20% from the end of last year, according to data released by the Turkish Central Bank on Monday.

Liabilities against non-residents fell 12.1% to $562.5 billion during the same period.

The net international investment position (NIIP)-the gap between Turkey's external assets and liabilities-shrank to minus $255.7 billion in October, from minus $384.7 billion at the end of 2020.

Showing a snapshot in time, the NIIP-which can be either positive or negative-is the value of overseas assets owned by a nation, minus the value of domestic assets owned by foreigners, including overseas assets and liabilities held by a country's government, the private sector, and its citizens.

Reserve assets, a sub-item under assets, jumped 32.9% to $123.9 billion, the data showed.

Other investments, another sub-item under assets, stood at $123.7 billion in October, a 14.2% increase from the end of last year.