Taiwan Current Account to GDP Ratio

Taiwan's current account to GDP ratio reached 15.7% in 2024. This figure is the highest since 1987, increasing from 14% in 2023. This rise reflects a strong external sector, driven by robust information and communication technology (ICT) exports particularly semiconductors. Global demand for artificial intelligence (AI) applications fueled a surge in these exports. Taiwan's ICT exports reached $132.5 billion in 2024, a 59.0% year-on-year increase. Shipments to the United States climbed nearly 63% year-on-year in July 2025, highlighting Taiwan's significant role in the global semiconductor supply chain. The primary income surplus also widened to $11.45 billion in the fourth quarter of 2024, an increase from $7.85 billion in the same period of the previous year. This growth was driven by higher income from residents' outward direct investments and increased interest earnings from banks' overseas activities. Despite a slight contraction in the goods trade surplus in the latter part of 2024 due to imports growing faster than exports, overall export value remained strong. In 2024, exports increased by 9.8% year-on-year to $475.0 billion while imports grew by 12.2% year-on-year to $394.4 billion. Taiwan's record low current account to GDP was -1.9% in 1980 and its record high was 21% in 1986.