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Taiwan's Current Account Surplus Highest Since Q1 2009

Taiwan's current account surplus increased in the fourth quarter of 2011, to reach its highest level since the first quarter of 2009, data from the central bank showed Monday.

The current account surplus amounted to $12.1 billion in the fourth quarter compared to $10.19 billion in the third quarter. This was the second highest quarterly figure on record with an increase of $2.65 billion, or 28.1 percent, over the same period last year.

In the current account, goods trade surplus widened by $3.29 billion to $8.94 billion when compared to the same period of the previous year.

The services account exhibited a surplus of $1.31 billion, the second highest quarterly record ever registered. The income account posted a surplus of $2.41 billion, declining by $0.24 billion from the same period last year, mainly attributable to lower income from investment in foreign asset.

Current transfer deficit narrowed slightly by $0.02 billion from the same period last year to reach $0.57 billion. In sum, shrinking surpluses in the services and income accounts were offset by a wider goods trade surplus and a narrower current transfer deficit, the central bank said.

by RTTNews Staff Writer

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