Central Bank has record overall balance surplus in 2009
Central News Agency
2010-02-23 09:08 PM
Taipei, Feb. 23 (CNA) The balance of payments of the Central Bank of the Republic of China (Taiwan) in 2009 registered a record surplus of US$54.13 billion, reflecting an increase in the bank's reserve assets, according to statistics released by the bank Tuesday.

The bank reported that for 2009, the bank's current account showed a surplus of US$42.57 billion, up 69.46 percent from that of the previous year, while its financial account had a net inflow of US$13.98 billion, the first net inflow since 2005.

The impressive growth in current account could be attributed to a recovering world economy in addition to a lower base effect, according to the report.

In the fourth quarter of last year, when more local insurance companies were investing in bonds overseas and many individual investors were using overseas mutual funds, direct and portfolio investment exhibited net outflows of US$0.89 billion and US$4.12 billion, respectively, while residents' portfolio investments abroad registered a net outflow of US$10.88 billion, the bank reported.

Meanwhile, non-residents' portfolio investments showed a net inflow of US$6.75 billion, induced mainly by foreign capital inflows targeting domestic stock and bond markets. Other investments exhibited a net inflow of US$9.07 billion, largely attributable to a decrease in external lending by the banking sector and an increase in the withdrawal of overseas deposits by the private sector.

(By Tien Yu-ping and Lillian Lin)

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