Region:
Asia
Category:
Economy
Article type:
Informed

Taiwan occupies 3rd place in global ranking of current account

Region:
Asia
Category:
Economy
Article type:
Informed
Author/s:
By Pablo Pla
Publication date:
Print article

The current account is the sum of the trade balance, net income from foreign countries and net current transfers. Surplus means that performs well in exports and has a favorable trade balance

Taiwan was placed in third place in the overall ranking of the current account surplus by 2015, according to results of a survey published by the news agency "Bloomberg News", based in New York, on Monday, 23.

In Asian terms, Taiwan was ranked second only to Singapore, which ranked first globally, but higher than South Korea, which stood at ninth place in the world.

Among the 75 countries and areas surveyed by Bloomberg News, 36 economies are expected to enjoy a surplus in their current accounts for the current year, including including 11 economies located in the Asian region.

Between 11 Asian economies, Singapore ranked first globally, mainly because its trade surplus would represent 20 percent of gross domestic product (GDP), followed by Taiwan and South Korea, which were placed in the third and ninth, with 11 percent and 7 percent, respectively.

The current account is the sum of the trade balance (exports minus imports), net income from foreign countries and net current transfers. Because the trade balance is usually the largest of these components, a current account surplus usually means that the country is a major exporter and has a positive trade balance.

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