Mon, Jan 08, 2018 - Page 15 News List

Taiwan Business Quick Take

Staff writer

FOREX

Reserves up US$1.031bn

The nation’s foreign exchange reserves last month totaled US$451.5 billion, up US$1.031 billion from November, due to an increase in returns on funds managed by the central bank, a statement posted on the bank’s Web site on Friday said. Central bank data also showed that holdings of Taiwanese stocks, bonds and New Taiwan dollar-denominated deposits by foreign investors fell US$200 million from November to US$391.6 billion, accounting for 87 percent of foreign exchange reserves.

CREDIT CARDS

Cards, spending increase

As of the end of November, the number of credit cards in circulation reached 44.67 million, up by 160,000 from the end of October, and the number of effective credit cards totaled 27.94 million, an increase of 170,000 from the previous month, the Financial Supervisory Commission said on Thursday. Credit card spending in November increased 8.29 percent from the previous month to NT$233.7 billion, bringing total spending in the first 11 months of last year to NT$2.39 trillion, up 8.4 percent year-on-year, it said.

MACHINERY

Rising demand boosts exports

The nation’s machinery equipment exports grew 20.14 percent annually to US$23.2 billion for the first 11 months of last year and the whole-year figure could increase by 20 percent to total US$25 billion due to recovering demand in major markets, the Chinese-language Economic Daily News reported yesterday, citing the Taiwan Association of Machinery Industry (TAMI, 台灣機械公會). For this year, exports could rise more than 10 percent as more businesses introduce automation to boost productivity, TAMI chairman Alex Ko (柯拔希) told the newspaper.

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