The current account surplus in Taiwan widened to USD 12.48 billion in Q3 2019 from USD 10.9 billion a year earlier. The goods surplus increased (USD 16.2 billion from USD 15.7 billion), with exports declining to USD 85.13 billion as the US-China trade conflict remained unresolved, uncertainties over the global economy and trade were still high, and international raw material prices displayed a broad downtrend. Imports also shrank to USD 68.97 billion because of weaker export-derived demand. Also, the deficits narrowed for the services account (USD -1.9 billion from USD -2.3 billion) amid increased receipts from professional and management consulting services; primary income (USD -1.2 billion from USD -1.7 billion), mainly owing to reduced outward payments for nonresidents' direct investment income; and the secondary income (USD -0.57 billion from USD -0.84 billion), mainly because inward remittances for family allowances/support and workers' remittances increased. Current Account in Taiwan averaged 6225.39 USD Million from 1981 until 2019, reaching an all time high of 27901 USD Million in the fourth quarter of 2017 and a record low of -851 USD Million in the first quarter of 1981.

Current Account in Taiwan is expected to be 20873.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Taiwan to stand at 19228.00 in 12 months time. In the long-term, the Taiwan Current Account is projected to trend around 23600.00 USD Million in 2020, according to our econometric models.

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Taiwan Current Account

Actual Previous Highest Lowest Dates Unit Frequency
12481.00 17466.00 27901.00 -851.00 1981 - 2019 USD Million Quarterly

Calendar GMT Actual Previous Consensus TEForecast
2019-02-22 08:20 AM Q4 $18.65B $14.04B $11B
2019-05-20 08:20 AM Q1 $17.09B $20.72B $21.5B
2019-08-20 08:20 AM Q2 $17.56B $17.09B $20.8B
2019-11-20 08:20 AM Q3 $12.48B $17.56B $20.0B

News Stream
Taiwan Current Account Surplus Narrows in Q2
The current account surplus in Taiwan decreased by USD 0.18 billion to USD 17.56 billion in the Q2 2019 from USD 17.74 billion in the corresponding period of the previous year. The goods surplus went down by USD 3.58 billion to USD 14.42 billion, as exports decreased by USD 8.52 billion affected by an unresolved trade war between the US and China, the slowdown of global economy and lower prices of international raw materials, while imports shrank by USD 0.1 billion. Meanwhile, the services gap decreased by USD 1.16 billion to USD 1.03 billion, mainly amid an increase in travel revenue. In addition, the primary income surplus rose by USD 2.07 billion to USD 4.74 billion while the secondary income shortfall fell by USD 0.17 billion to USD 0.58 billion.

Taiwan Current Account Surplus Shrinks in Q1
The current account surplus in Taiwan narrowed to USD 17.09 billion in the first quarter of 2019 from USD 22.18 billion in the same period of the previous year. The goods surplus dropped to USD 12.43 billion from USD 16.53 billion in the first quarter of 2018 and the primary income surplus fell to USD 6.22 billion from USD 7.76 billion. In addition, the services gap shrank to USD 0.76 billion from USD 1.19 billion a year earlier and the secondary income deficit declined to USD 0.80 billion from USD 0.92 billion.

Taiwan Current Account Surplus Narrows in Q4
The current account surplus in Taiwan decreased by USD 6.99 billion to USD 18.65 billion in the Q4 2018 from USD 25.64 billion in Q4 2017. The goods surplus went down to USD 17.47 billion from USD 22.92 billion, as exports decreased by USD 6.25 billion affected by the slowdown in global growth and higher base periods while imports shrank by USD 0.80 billion. The primary income surplus also narrowed to USD 2.79 billion from USD 4.99 billion, as foreign direct investment income fell to USD 2.68 billion from USD 4.36 billion. Meanwhile, the services deficit declined to USD 0.78 billion from USD 1.51 billion, mainly due to the decrease in processing fee and the increase in transportation revenue; and the secondary income shortfall rose slightly to USD 0.83 billion from USD 0.77 billion in Q4 2017, explained by the large amount of trade liquidated damages in the same quarter last year. In 2018, the current account surplus shrank to USD 68.26 billion from USD 82.84 billion in 2017.

Taiwan Current Account
Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).

Taiwan Trade Last Previous Highest Lowest Unit
Balance of Trade 2502.25 4278.42 6662.67 -847.44 USD Million [+]
Current Account 12481.00 17466.00 27901.00 -851.00 USD Million [+]
Current Account to GDP 11.60 14.70 21.00 -1.90 percent [+]
Imports 26992.33 24304.40 27132.35 1203.70 USD Million [+]
Exports 29494.58 28582.82 29985.19 1406.50 USD Million [+]
External Debt 191864.00 187182.00 202611.00 31705.00 USD Million [+]
Terms of Trade 90.70 92.00 169.30 85.30 points [+]
Capital Flows 13407.00 16151.00 28065.00 -1029.00 USD Million [+]
Tourist Arrivals 990.40 939.13 1125.11 40.30 Thousand [+]
Gold Reserves 423.63 423.63 423.89 421.23 Tonnes [+]
Foreign Direct Investment 401.58 1930.19 3953.79 81.58 USD Million [+]
Terrorism Index 1.01 0.94 1.01 0.00 [+]