BALANCE OF PAYMENTS (Q1 2017)

central bank of the republic of china (taiwan)

press release                                    release date: may 19, 2017   

  balance of payments (q1 2017)

for the first quarter of 2017, the overall balance of payments registered a current account surplus of us$16.39 billion, a net asset increase of us$13.89 billion on the financial account, and an increase of us$2.43 billion in the bank's reserve assets.

i.       current account

the current account surplus narrowed by us$3.19 billion or 16.3% over the same quarter of the previous year.

1.  the goods trade surplus shrank by us$1.43 billion year on year to us$15.76 billion. exports grew by us$5.30 billion, bolstered by thriving demand for semiconductors and a lower base effect. imports also rose by us$6.73 billion as export-derived demand strengthened and international raw material prices trended up.

2.  the services deficit widened by us$0.37 billion year on year to us$2.68 billion, mainly owing to decreased travel receipts.

3.  the primary income account posted a smaller surplus of us$4.37 billion, a us$0.87 billion decline owing mainly to an increase in payments to non-residents' portfolio investment income.

4.  the secondary income deficit widened by us$0.51 billion to us$1.06 billion mainly because of increases in workers' outward remittances and in residents' remittances to overseas relatives.

ii.     financial account

1.  the direct investment account registered a net asset increase of us$1.72 billion. of the components, residents' direct investment abroad and inbound direct investment by foreign investors recorded net increases of us$2.64 billion and us$0.93 billion, respectively.

2.  portfolio investment exhibited a net asset increase of us$26.12 billion. of the components, residents' portfolio investment abroad posted a net increase of us$34.17 billion mainly because insurance companies expanded their investment in debt securities abroad. non-residents' portfolio investment showed a net increase of us$8.04 billion as foreign investors boosted their holdings of taiwanese stocks.

3.  financial derivatives posted a net asset decrease of us$0.93 billion, mainly because of gains on disposal of financial derivatives received by banks and other financial corporations. 

4.  other investment recorded a net asset decrease of us$13.02 billion, mainly owing to an increase in trade credit received by the private sector as well as foreign borrowing by the banking sector.

 

notes:

1. the next balance of payments data will be released at 16:20 p.m. on august 21, 2017.

2. for the release schedule for the upcoming months, please check the cbc website at http://www.cbc.gov.tw/ct.asp?xitem=30164&ctnode=515&mp=2.