Central Bank of the Republic of China (Taiwan)

PRESS RELEASE          Release Date: November 21, 2022

For the third quarter of 2022, the overall balance of payments posted a current account surplus of US$20.71 billion, a net asset increase of US$23.85 billion on the financial account, and a decrease of US$4.12 billion in the Bank's reserve assets.

The current account surplus decreased by US$6.14 billion over the same quarter of the previous year.

1. The goods trade surplus shrank by US$4.56 billion year on year to US$16.84 billion, mainly because of a larger increase in imports than exports as faltering final demand led export growth to slow down in recent months and international raw material prices stayed elevated. 

2. The services account surplus widened by US$0.50 billion year on year to US$3.75 billion, mainly owing to an increase in travel receipts.

3. Primary income surplus decreased by US$2.06 billion year on year to US$0.99 billion, mainly reflecting a decline in the balance of direct investment income.

4. The secondary income account deficit slightly widened by US$0.03 billion year on year to US$0.86 billion, mainly owing to an increase in outward remittances to support family overseas.

1. The direct investment account registered a net asset increase of US$1.12 billion. Of its components, outward direct investment by residents and inward direct investment by nonresidents recorded net increases of US$2.18 billion and US$1.06 billion, respectively. 

2. Portfolio investment posted a net asset increase of US$26.96 billion. Of its components, residents' portfolio investment abroad recorded a net increase of US$7.55 billion as the private sector boosted their holdings of overseas debt securities. Nonresidents' portfolio investment posted a net decrease of US$19.40 billion mainly because foreign investors reduced their equity holdings in the local stock markets.

3. Financial derivatives recorded a net asset increase of US$2.56 billion, mainly because of a decrease in liabilities that reflected losses on disposal of financial derivatives by other financial institutions.

4. Other investment exhibited a net asset decrease of US$6.79 billion, mainly owing to the withdrawal of overseas deposits by the private sector. 

For the first three quarters of 2022, the overall balance of payments posted a current account surplus of US$75.03 billion, a net asset increase of US$76.03 billion on the financial account, and a decrease of US$0.05 billion in the Bank's reserve assets.

 

Notes: 1. The next release of balance of payments data will be at 16:20 on February 20, 2023.

            2. For the release schedule for the coming months, please visit the Advance Release Calendar on the Bank's website.