Taiwan: Current account, percent of GDP

* indicates monthly or quarterly data series
 Taiwan

Current account balance as percent of GDP

 Latest value 15.10
 Year 2022
 Measure percent
 Data availability 2015 - 2022
 Average 13.41
 Min - Max 10.62 - 15.10
 Source Asian Development Bank
The latest value from 2022 is 15.1 percent, an increase from 14.76 percent in 2021. In comparison, the world average is -2.68 percent, based on data from 175 countries. Historically, the average for Taiwan from 2015 to 2022 is 13.41 percent. The minimum value, 10.62 percent, was reached in 2019 while the maximum of 15.1 percent was recorded in 2022. See the global rankings for that indicator or use the country comparator to compare trends over time.
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Taiwan - Current account, percent of GDP - Recent values chart




The current account of Taiwan and other countries has three components: 1) the exports of goods and services minus the imports of goods and services; 2) the difference of incomes that countries pay to each other; and 3) the difference in transfers that countries make to each other. Current account deficits are reported with a minus sign and surpluses are reported with a plus sign.

A current account deficit means that the country needs to find financing for its imports. The foreign currencies it receives from selling products abroad are not enough to pay for the products it wants to buy from other countries. The needed amounts of foreign currencies can be obtained by, for example, borrowing. For instance, in the last several years the U.S. has been borrowing money from China in order to buy Chinese products.

This is not necessarily a problem. The current account deficit starts to be a problem if it exceeds 3-4 percent of GDP for many years. Over that time, the country accumulates a significant amount of foreign debt that eventually has to be repaid.
Definition: Current account balance is the sum of net exports of goods and services, net primary income, and net secondary income.

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 Related indicators Latest Reference Measure
 Current account, percent of GDP 15.10 2022 percent
 Foreign exchange reserves 18,431.64 9/2024 billion
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