The current account surplus in Taiwan increased by USD 15 billion to USD 28.65 billion in the third quarter of 2020 from USD 13.65 billion in the same period of 2019. It was the largest current account surplus on record, as the goods surplus rose by USD 6.96 billion to USD 23.47 billion, driven by orders for technology applications related to remote-working and 5G network and greater restocking demand for the latest electronic products. Meantime, the services account shifted to a USD 1.68 billion surplus compared to a USD 1.85 billion deficit, on a smaller travel deficit. Also, the primary income account shifted to a USD 4.34 billion surplus compared to a USD 0.45 billion gap in Q3 2019, amid an increase in residents' income from outward foreign direct investment. Meanwhile, the secondary income gap went up by USD 0.26 billion to USD 0.83 billion, due to an increase in workers' outward remittances. source: Central Bank of the Republic of China (Taiwan)
Current Account in Taiwan averaged 6597.86 USD Million from 1981 until 2020, reaching an all time high of 28651 USD Million in the third quarter of 2020 and a record low of -851 USD Million in the first quarter of 1981. This page provides - Taiwan Current Account - actual values, historical data, forecast, chart, statistics, economic calendar and news. Taiwan Current Account - data, historical chart, forecasts and calendar of releases - was last updated on November of 2020.
Current Account in Taiwan is expected to be 18228.00 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 19500.00 in 12 months time. In the long-term, the Taiwan Current Account is projected to trend around 19550.00 USD Million in 2021 and 21600.00 USD Million in 2022, according to our econometric models.