Central bank rates Taiwan as world's No. 5 creditor
The China Post news staff
June 16, 2012, 12:04 am TWN
The China Post news staff--Taiwan ranked as the world's fifth largest net creditor in terms of international investment apposition in 2011, according to the latest statistics released by the Central Bank of the Republic of China (Taiwan).
As of the end of 2011, Taiwan's total external assets amounted to US$1,187.2 trillion, representing a steady increase of US$61.5 billion or 5.5 percent from the end of 2010.
CBC officials attributed the increases mainly to both foreign lending by the banking sector and to direct investment abroad by the private sector.
While international stock markets experienced price falls due to the lingering European sovereign debt crisis, the balance of residents' portfolio investment abroad decreased, edging down by US$1.0 billion at the end of 2011.
Taiwan's total external liabilities at the end of 2011 stood at US$446.6 billion, down by US$33.4 billion, or 7.0 percent, from the end of the preceding year. This is mainly accounted for by foreign investors reducing their holdings of local stocks along with falling share prices.