The current account surplus in Taiwan increased by USD 1.05 billion to USD 18.16 billion in the Q1 2020 from USD 17.11 billion in the corresponding period of the previous year. The services deficit shrank by USD 0.38 billion to USD 0.61 billion, mainly due to the narrowing of the travel revenue and expenditure deficit. Meanwhile, the goods surplus went down by USD 0.19 billion to USD 12.41 billion, as exports fell by USD 2.48 billion and imports shrank by USD 2.29 billion, amid the spread of the Covid-19 epidemic which impacted the supply and demand side of the global economy as well as prices of international raw materials. Meantime, the primary income surplus rose by USD 0.94 billion to USD 7.21 billion, due to the reduction in foreign interest paid by banks. Also, the secondary income shortfall increased by USD 0.1 billion to USD 0.85 billion, mainly due to an increase in workers' remittances.
Current Account in Taiwan averaged 6373.17 USD Million from 1981 until 2020, 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. 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 August of 2020.
Current Account in Taiwan is expected to be 17242.00 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 17921.00 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.