Türkiye’s short-term external debt rises to $182.5B

Türkiye’s short-term external debt reached $182.5 billion by the end of May, showing a 3.6% increase from the end of 2023, according to data from the Central Bank of the Republic of Türkiye (CBRT).

Banks’ short-term external debt stock increased by 11.6% to $76.4 billion, and short-term foreign exchange (FX) loans from abroad surged by 32.5% to $16.7 billion.

Other sectors saw a marginal rise of 0.1%, reaching $61.4 billion.

Foreign exchange deposits

FX deposits of non-residents in resident banks dropped by 6.8%, totaling $18.6 billion. Meanwhile, non-resident banks’ FX deposits decreased by 0.9% to $20.5 billion.

Currency breakdown

Trade credits because of imports increased by 0.4% to $54.5 billion. The currency composition of the short-term external debt stock was 49.5% U.S. dollars, 21.8% euros, 13.5% Turkish lira, and 15.2% other currencies.

Remaining maturity basis

The short-term external debt stock on a remaining maturity basis, which includes debt maturing within one year or less, totaled $235.3 billion.

Of this, $22.4 billion belongs to resident banks and private sectors tied to banks’ branches and affiliates abroad.

Borrowers breakdown

From the borrowers’ side, the public sector accounted for 22.2%, the CBRT for 19%, and the private sector for 58.8% of the total stock.