BALANCE OF PAYMENTS (Q3 2024)

For the third quarter of 2024, the overall balance of payments registered a current account surplus of US$27.48 billion, a net asset increase of US$24.50 billion on the financial account, and an increase of US$1.61 billion in the Bank's reserve assets.

The current account surplus decreased by US$1.65 billion over the same quarter of the previous year.

1. The goods trade surplus dropped by US$1.95 billion year on year to US$29.17 billion. Imports increased more than exports as businesses expanded their restocking plans driven by export-derived demand.

2. The services account deficit widened from US$4.31 billion a year ago to US$4.60 billion, mainly reflecting an increase in travel expenditures.

3. Primary income surplus grew by US$0.74 billion year on year to US$4.28 billion, mainly because of an increase in residents' income from outward direct investment.

4. The secondary income account deficit expanded by US$0.14 billion year on year to US$1.37 billion, mainly attributable to increased expenditures in gifts and samples.

1. The direct investment account posted a net asset increase of US$8.01 billion. Of the components, outward direct investment by residents and inward direct investment by nonresidents recorded net increases of US$10.66 billion and US$2.65 billion, respectively.

2. The portfolio investment account registered a net asset increase of US$24.31 billion. Of the components, residents' portfolio investment abroad posted a net increase of US$6.50 billion, mainly because of a rise in residents' holdings of overseas equity securities. Nonresidents' portfolio investment recorded a net decrease of US$17.81 billion, mainly attributable to a decrease in Taiwanese equity holdings by foreign investors.

3. The financial derivatives account exhibited a net asset decrease of US$0.28 billion, mainly owing to a decrease in assets as other financial institutions received gains from disposal of financial derivatives.

4. The account of other investment recorded a net asset decrease of US$7.54 billion, mainly reflecting an increase in liabilities as nonresidents' deposits with banks rose.

For the first three quarters of 2024, the overall balance of payments registered a current account surplus of US$79.83 billion, a net asset increase of US$68.00 billion on the financial account, and an increase of US$6.74 billion in the Bank's reserve assets.

Notes: 1. The next balance of payments data will be released at 16:20 on February 20, 2025.

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