Turkey's private sector's outstanding long-term loans received from abroad rose to $220.6 billion as of December 2017, while short-term loans stood at $18.3 billion, according to an official report yesterday.

The Central Bank of the Republic of Turkey (CBRT) announced that private sector pending long-term loans from abroad climbed $18.2 billion, whereas short-term loans - excluding trade credits - increased by $4 billion compared to the end of 2016.

By definition, short-term loans have an original maturity of one year or less, while long-term loans have an original maturity of more than one year.

"As for the sectoral breakdown by the end of December of the total long-term loans in the amount of $220.6 billion, 51.3 percent consists of liabilities of financial institutions, whereas 48.7 percent consists of liabilities of nonfinancial institutions," the CBRT said.

"In the same period of the total short-term loans in the amount of $18.3 billion, 78.4 percent consists of liabilities of financial institutions, whereas 21.6 percent consists of liabilities of the nonfinancial institutions," the bank added.

Regarding the currency composition, 58.6 percent of the total long-term loans were U.S. dollar loans, 34.9 percent consists of euros, 4.8 percent were in Turkish lira and 1.7 percent from other currencies, according to the report.

"And of the total short-term loans in the amount of $18.3 billion, 47.6 percent consists of U.S. dollars, 29 percent consists of euros and 23.4 percent consists of Turkish liras.

"The private sector's total outstanding loans received from abroad based on a remaining maturity basis point out to principal repayments in the amount of $70.2 billion for the next 12 months by the end of December."

The central bank periodically releases data for the private sector's long and short-term loans received from abroad through gathering details from credit-based forms submitted by resident financial institutions and companies. According to the national data release calendar, the bank will announce the next report on Thursday, March 15.