Turkey: Foreign Exchange Assets and Liabilities of Non-Financial Companies - September 2021

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1. Foreign Exchange Assets and Liabilities of Non-Financial Companies Data Governance and Statistics Department SEPTEMBER 2021
2. Foreign ExchangeAssets and Liabilities of Non-Financial Companies | September 2021 1 Evaluations According to the table of Foreign Exchange Assets and Liabilities of Non-Financial Companies as of September 2021, assets increased by USD 118 million while liabilities decreased by USD 1,297 million, compared to August 2021. Accordingly, Net Foreign Exchange Deficit recorded USD 122,297 million indicating a decrease of USD 1,416 million compared to August 2021 (Graph 1). Graph 1. Net Foreign Exchange Position - Assets and Liabilities (Million USD) Assets Liabilities Net Foreign Exchange Position 200,000 100,000 0 -100,000 -200,000 -300,000 2021-09 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 -400,000 On the asset side; export receivables and direct investments abroad increased by USD 627 million and USD 408 million, while deposits held by domestic banks decreased by USD 943 million compared to August 2021. Accordingly, assets recorded an increase of USD 118 million (Graph 2). On the liability side; domestic loans and external loans (excluding trade credits) decreased by USD 1,066 million and USD 553 million respectively, while import payables increased by USD 322 million compared to August 2021. Accordingly, liabilities recorded a decrease of USD 1,297 million (Graph 3). Graph 2. Composition of Assets (Million USD) Securities Export Receviables Direct Investment Abroad Deposits Graph 3. Composition of Liabilities (Million USD) Domestic Loans External Loans Import Payables 400,000 400,000 300,000 300,000 200,000 200,000 100,000 100,000 2021-09 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 0 2010 2021-09 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 0 In September 2021, short-term domestic loans increased by USD 139 million, while long-term domestic loans decreased by USD 1,206 million compared to August 2021. Short-term external loans decreased by USD 412 million, while long-term external loans increased by USD 181 million (Graph 4).
3. Foreign ExchangeAssets and Liabilities of Non-Financial Companies | September 2021 2 Graph 4. Maturity Breakdown of Liabilities (Million USD) Domestic FX Loans External FX Loans Import Payables Domestic FX-Indexed Loans Domestic Non-Bank Financial Institutions 300,000 250,000 200,000 150,000 100,000 50,000 2014-12 2015-12 2016-12 2017-12 2018-12 2019-12 Long-Term Short-Term Long-Term Short-Term Long-Term Short-Term Long-Term Short-Term Long-Term Short-Term Long-Term Short-Term Long-Term Short-Term Long-Term Short-Term 0 2020-12 2021-09 In September 2021, short-term assets recorded USD 134,495 million while short-term liabilities recorded USD 74,388 million. Accordingly, Short-Term Foreign Exchange Surplus recorded USD 60,106 million indicating a decrease of USD 17 million compared to August 2021 (Graph 5). The share of the short-term liabilities in total liabilities is 27 percent (Graph 6). Graph 5. Short-Term Net Foreign Exchange Position (Million USD) Net Foreign Exchange Position Short-Term Net Foreign Exchange Position 80 40 0 -40 -80 -120 -160 2021-09 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 -200 Graph 6. Share of the Short-Term Liabilities in Total Liabilities (%) 50% 45% 40% 35% 30% 25% 2021-09 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 20%