Türkiye’s total short-term external debt due within 1 year drops to 14-month low

Türkiye’s total short-term external debt on a remaining maturity basis declined to $221.3 billion from $232.7 billion the previous month, marking the lowest level in 14 months, the Turkish central bank reported on Wednesday.

Short-term external debt reached $172.3 billion, falling 0.4% compared to November 2024.

The banks’ short-term external debt fell 0.7% to $74.3 billion and the short-term external debt of other sectors rose 3.9% to $63.2 billion over the same period.

Short-term foreign exchange loans Turkish banks took from abroad decreased 1.6% to $16.8 billion, while foreign exchange deposits of non-residents in resident banks declined 0.4% to $18.7 billion.

Trade credits soar

Excluding banks, foreign residents’ foreign currency deposits decreased by 0.4% to $18.6 billion, while their Turkish lira deposits declined by 0.5% to $20.2 billion.

Trade credits linked to imports by other sectors rose 4.4% to $54.7 billion, while liabilities arising from cash loans decreased by 7.4% to $3.8 billion, the data showed.

The currency breakdown of the debt stock was 48.3% U.S. dollars, 19.6% euros, 16.4% Turkish liras, and 15.7% other currencies.