RTTNews - Taiwan logged a current account surplus of US$12.99 billion in the first quarter, higher than a surplus of US$8.47 billion in the same period last, a report from the Central Bank showed Wednesday. Economists expected the surplus to be US$10.5 billion.

During the quarter, the surplus in the goods account increased to US$9.04 billion from US$4.27 billion, while the services account recorded a surplus of US$0.6 billion, in contrast to a deficit of US$0.01 billion last year. Further, the current transfers account showed a smaller deficit of US$0.54 billion compared to US$0.9 billion deficit last year. On the other hand, the income account surplus decreased to US$3.9 billion from US$5.1 billion in the previous year.

Meanwhile, the capital account showed a deficit of US$0.02 billion in the first quarter, lower than a deficit of US$0.27 billion in the same period last year. At the same time, the financial account logged a deficit of US$1.7 billion, reversing from a surplus of US$0.7 last year.

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