Back to list

Taiwan's balance of payments surplus up year-on-year

2012/05/21 23:49:35

Taipei, May 21 (CNA) Taiwan's balance of payments showed a surplus of US$5.09 billion in the first quarter, US$0.51 billion higher than the same quarter a year earlier, the country's central bank said Monday.

The country had a current account surplus of US$10.93 billion and a financial account deficit of US$3.7 billion in the first quarter, the central bank said in a statement.

Lin Shu-hua, deputy director of the bank's economic research department, said the country's trade surplus, an increasing inflow of foreign capital and a slowdown in the outflow of capital by Taiwan's financial sector, all contributed to the surplus.

The current account surplus, which looks at the country's balances in terms of merchandise trade, services, income and current transfers, and the financial account, which measures flows in investments across borders, are the two main components in the balance of payments ledger.

Taiwan had a trade surplus of US$5.89 billion in the first quarter, up US$0.51 billion from the same quarter a year earlier, but the balances in services and on income were lower than a year earlier.

Net financial outflows were also slightly lower than a year earlier. Residents' portfolio investment abroad exhibited a net outflow of US$6.37 billion, much lower than the net outflow of US$9.49 billion a year earlier.

Nonresidents' portfolio investment registered a net inflow of US$5.30 billion, compared with a net outflow of US$3.43 billion a year earlier, mostly owing to increasing foreign investment in Taiwan's stock markets.

(By Kao Chao-fen and Ann Chen)