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Central Bank of the Republic of China



Central Bank of the Republic of China (Taiwan)

PRESS RELEASE                                        Release Date: May 20, 2021


For the first quarter of 2021, the overall balance of payments registered a current account surplus of US$25.96 billion, a net asset increase of US$15.93 billion in the financial account, and an increase of US$10.54 billion in the Bank's reserve assets.

I. Current Account

The current account surplus increased by US$9.03 billion over the same quarter of the previous year.

1. The goods trade surplus stood at US$18.75 billion, representing a year-on-year increase of US$6.33 billion mainly owing to continued demand for emerging technology applications and a rebound in business for traditional manufacturing goods.

2. The services account recorded a surplus of US$2.83 billion compared to the US$0.60 billion deficit in the same quarter of the previous year, mainly because of a wider freight surplus and a narrower travel deficit.

3. Primary income ran a surplus of US$4.99 billion, decreasing by US$0.96 billion year on year mainly owing to a decrease in banks' overseas interest income.

4. The secondary income account deficit shrank by US$0.24 billion year on year to US$0.61 billion, mainly because of decreases in outward remittances both by residents to supplement overseas family and by migrant workers.

II. Financial Account

1. The direct investment account recorded a net asset increase of US$1.10 billion. Of the components, residents' direct investment abroad and inbound direct investment by foreign investors posted net increases of US$3.48 billion and US$2.38 billion, respectively.

2. Portfolio investment exhibited a net asset increase of US$35.74 billion. Of the components, residents' portfolio investment abroad posted a net increase of US$23.26 billion, mainly because of increased investment in overseas debt securities by the banking sector and insurance firms. Nonresidents' portfolio investment registered a net decrease of US$12.49 billion mainly owing to a reduction in local stock holdings by foreign investors.

3. Financial derivatives recorded a net asset decrease of US$0.22 billion, mainly reflecting an asset decrease owing to gains from disposal of financial derivatives by other financial institutions.

4. Other investment showed a net asset decrease of US$20.69 billion, mainly accounted for by banks' foreign borrowings from overseas branches and other banks.



1. The next balance of payments data will be released at 16:20 p.m. on August 20, 2021.

2. For the release schedule for the upcoming months, please visit the Bank's website at

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