BALANCE OF PAYMENTS (Q3 2025)

For the third quarter of 2025, the overall balance of payments registered a current account surplus of US$45.84 billion, a net asset increase of US$36.92 billion on the financial account, and an increase of US$5.12 billion in the Bank's reserve assets.

1. Current Account

The current account surplus increased by US$20.76 billion over the same quarter of the previous year.

1. The goods trade surplus widened by US$21.90 billion year on year to US$49.83 billion. This was mainly due to an expansion in exports bolstered by sustained strong business momentum in AI and other emerging technologies, as well as rising demand driven by inventory build-up for new consumer electronics products.
2. The services account deficit widened by US$0.18 billion year on year to US$4.08 billion, mainly owing to an increase in travel expenditures and a decrease in receipts from freight services by resident carriers.
3. Primary income surplus rose by US$0.50 billion year on year to US$2.64 billion, mainly because of an increase in residents' income from outward direct investment.
4. The secondary income deficit widened by US$1.46 billion year on year to US$2.54 billion mainly reflecting an increase in outward workers' remittances.

2. Financial Account

1. The direct investment account recorded a net asset increase of US$9.10 billion. Of the components, outward direct investment by residents and inward direct investment by nonresidents recorded net increases of US$9.92 billion and US$0.82 billion, respectively.
2. The portfolio investment account recorded a net asset increase of US$10.64 billion. Of the components, residents' portfolio investment abroad posted a net increase of US$16.00 billion mainly because the private sector raised their holdings of overseas debt securities. Nonresidents' portfolio investment recorded a net increase of US$5.37 billion mainly because foreign investors stepped up their holdings of Taiwanese equities.
3. The financial derivatives account posted a net asset decrease of US$0.72 billion, mainly owing to a decrease in assets that reflected gains from the disposal of derivative financial instruments by other financial corporations.
4. The account of other investment recorded a net asset increase of US$17.91 billion, mainly because of increases in foreign deposits and trade credit and advances of the private nonfinancial sector.

3. Overview of BOP (Q1 – Q3, 2025)

For the first three quarters of 2025, the overall balance of payments posted a current account surplus of US$112.24 billion, a net asset increase of US$83.26 billion on the financial account, and an increase of US$21.03 billion in the Bank's reserve assets.

Notes: 1. The next release of balance of payments data will be at 16:20 on February 26, 2026.

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