Taiwan suffers US$2.6 bil. deficit in third quarter

Updated Saturday, November 22, 2008 12:10 am TWN, CNA

Taiwan suffers US$2.6 bil. deficit in third quarter

TAIPEI, Taiwan -- Taiwan’s international balance of payments registered a rare deficit of US$2.6 billion in the third quarter of this year, reflecting a decrease in the country’s reserve assets, the Taipei-based Central Bank of the Republic of China (CBC) reported Friday.

Taiwan last registered an international payment deficit of US$7.73 billion in the same period last year, according to CBC official Yeh Jung-tzao.

The balance of payments covers all economic transactions between Taiwan’s residents and non-residents in goods, services, income and current transfers mainly in two accounts — the current account and the financial account.

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