Turkey's net international investment position dropped by $20 billion to a deficit of $364.8 billion at the end of August, Turkey's Central Bank said on Oct. 19.
While the national international deficit had been at $344.7 billion at the end of 2019, Turkey's international assets shrunk by 10.2 percent to reach $227.4 billion and international liability shrank by a mere one percent to $592.2 billion.
International reserve assets took the larger blow with a 20.8 percent drop. International investments dropped by 5.6 percent, a comparison that's revealing the fact that Turkey's international deficit is prompted more by domestic factors than international.
Portfolio investments shrunk by 21.3 percent from the end of 2019 for a total $104.4 billion while state bonds owned by foreign nationals dropped by a whopping 63.6 percent.Turkish Central Bank's net international reserves shrink dramatically as lira hits new low