For the fourth quarter of 2021, the overall balance of payments registered a current account surplus of US$32.19 billion, a net asset increase of US$31.78 billion on the financial account, and an increase of US$3.76 billion in the Bank's reserve assets.

I. Current Account

The current account surplus increased by US$5.07 billion over the same quarter of the previous year.

1. The goods trade surplus expanded by US$1.63 billion year on year to US$24.29 billion, mainly bolstered by steady growth in global trade and economic activity, as well as sustained demand for digital transformation and emerging technology applications.

2. The services account surplus widened by US$2.35 billion year on year to US$3.95 billion mainly because of an increase in freight proceeds.

3. The primary income surplus increased by US$1.01 billion year on year to US$4.64 billion, mainly attributable to an increase in residents' income from outward direct investment.

4. The secondary income deficit narrowed by US$0.08 billion to US$0.68 billion, mainly on account of an increase in receipts from gifts and samples.   

II. Financial Account

1. The direct investment account posted a net asset increase of US$1.15 billion. Of the components, residents' direct investment abroad and inbound direct investment by foreign investors recorded net increases of US$2.54 billion and US$1.39 billion, respectively.

2. The portfolio investment account recorded a net asset increase of US$20.26 billion. Of the components, residents' portfolio investment abroad posted a net increase of US$21.32 billion, mainly owing to a rise in overseas debt securities investment by insurance companies. Nonresidents' portfolio investment recorded a net increase of US$1.07 billion mainly because of increases in Taiwanese share holdings by foreign investors.

3. The financial derivatives account registered a net asset decrease of US$0.35 billion, mainly owing to a reduction in assets as other financial institutions received gains from disposal of financial derivatives.

4. The account of other investment recorded a net asset increase of US$10.73 billion, mainly reflecting increases in banks' overseas interbank lending and in banks' repayments for foreign borrowing.

III. Overview of BOP（2021）

For the entire year of 2021, the overall balance of payments posted a current account surplus of US$116.12 billion, a net asset increase of US$104.60 billion on the financial account, and an increase of US$20.99 billion in the Bank's reserve assets.

Notes:

1. The next balance of payments data will be released at 16:20 p.m. on May 20, 2022.

2. For the release schedule for the coming months, please see the Advance Release Calendar.