ANKARA

Türkiye's external assets rose 5.7% year-on-year to $304.7 billion at the end of 2022, according to official data released on Monday.

Liabilities against non-residents amounted to $583.8 billion at the end of last December, up by 7.9% compared to the end of 2021, the Turkish Central Bank data showed.

The net international investment position (NIIP), defined as the difference between Türkiye's external assets and liabilities, reached minus $279.1 billion at the end of the last year versus minus $252.7 billion at the end of 2021.

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 nation's government, the private sector and its citizens.