Türkiye's short-term external debt edges down to $165.7 billion in Q4

Türkiye's short-term external debt stock decreased marginally to $165.7 billion at the end of the fourth quarter of 2025, according to Turkish Central Bank data released Thursday. The figure represents a 0.3% decline from the previous quarter's $166.2 billion.

Sectoral Movements

The banking sector's short-term external debt fell 0.8% to $72.5 billion, while other sectors increased their short-term external borrowing by 4.5% to $68.3 billion during the same period. Short-term foreign exchange loans obtained by Turkish banks from abroad decreased sharply by 10.8% to $8.6 billion, and FX deposits of non-residents held in resident banks fell 2.6% to $19 billion.

Deposit and Currency Composition

"FX deposits of non-residents (excluding banking sector) recorded $21.2 billion increasing by 1.1%. In addition, non-residents' Turkish lira deposits increased by 3% and recorded $23.7 billion," the central bank reported. Trade credit liabilities linked to foreign trade transactions rose 4.7% to $62.5 billion, while liabilities from cash loans increased 1.7% to $5.8 billion. The currency composition stood at 35% US dollars, 27.9% euros, 22.7% Turkish liras, and 14.4% other currencies.

Maturity Basis

On a remaining maturity basis—including external debt due within one year—Türkiye's short-term external debt stock totaled $225.4 billion at year-end.