Current Account in Taiwan
Taiwan - Current AccountAnnual economic growth accelerated in the third quarter, powered by strong private consumption, government spending and a resilient external sector. However, the economy likely lost momentum in Q4. Industrial output fell in October and the manufacturing PMI for November remained in contractionary territory, pointing to weaker business activity. Moreover, tourism figures dipped in October—likely hit by China’s attempts to curb visits to the island—although remained strong for the year to date. More positively, external trade remains robust, with Taiwan benefiting from trade diversion from China due to the U.S.-China trade war. Meanwhile, Taiwan goes to the polls in early January to elect a new president and legislature, with China relations at the forefront of voters’ minds. The pro-independence DPP looks likely to retain the presidency, which could have detrimental effects on the external sector going forward.
Taiwan - Current Account Data
|Current Account (% of GDP)||9.7||11.4||14.1||13.4||14.5|
5 years of economic forecasts for more than 30 economic indicators.
Taiwan Current Account Chart
Source: Central Bank of China and FocusEconomics calculations.
|Bond Yield||0.69||1.28 %||Dec 31|
|Exchange Rate||29.91||0.07 %||Jan 01|
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January 7, 2020
Consumer prices increased 0.04% in December compared with the previous month, contrasting the 0.41% decrease in November.
January 7, 2020
Merchandise exports increased 4.0% in December in annual terms, following November’s 3.3% expansion.
January 2, 2020
The manufacturing Purchasing Managers’ Index (PMI), reported by IHS Markit, rose to 50.8 in December from 49.8 in November, thus moving above the 50-threshold and signaling the first improvement in operating conditions in over a year. The improvement came amid an uptick in the amount of new work received by manufacturers, ending a 15-month run of contraction.
Taiwan: Incumbent favorite to retain the presidency but majority unlikely; broad policy continuity expected
December 11, 2019
On 11 January 2020, the Taiwanese electorate will head to the polls to elect a new president and legislative assembly, with cross-strait relations and events in Hong Kong at the forefront of voters’ minds.
December 9, 2019
Merchandise exports increased 3.3% in November in annual terms, contrasting October’s 1.5% contraction.