Ankara: Trkiye's short-term external debt stock declined to $165.7 billion by the end of October, as announced by the Turkish Central Bank on Thursday. This marks a reduction of $21 million compared to September's figure of $169.8 billion.

According to Anadolu Agency, the banking sector saw a 0.8% rise in its short-term external debt to $73.4 billion. Conversely, other sectors experienced a 0.7% decline, bringing their short-term external debt down to $64.7 billion during the same period.

The data further revealed that short-term foreign exchange loans obtained by Turkish banks from abroad decreased by 16.7%, amounting to $7.8 billion. Meanwhile, the foreign exchange deposits of non-residents held in resident banks dropped by 0.5% to $19.4 billion.

The central bank noted an increase in non-residents' foreign exchange deposits, excluding the banking sector, which rose by 0.4% to reach $21.1 billion. Additionally, non-residents' Turkish lira deposits saw a 9.2% increase, reaching $25.1 billion.

Trade credit liabilities associated with foreign trade transactions decreased by 0.7%, totaling $59.2 billion. Liabilities derived from cash loans also saw a reduction of 1.1%, amounting to $5.5 billion.

The composition of the debt stock was diversified across various currencies, with 34.5% in US dollars, 26.8% in euros, 23% in Turkish liras, and the remaining 15.7% in other currencies.

On a remaining maturity basis, which includes all external debt due within one year, Trkiye's short-term external debt stock reached $226 billion at the end of October.