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Bloomberg sees Taiwan as one of 2015 winners in global trade

2015/03/24

 

New York, March 23 (CNA) Taiwan is expected to be the third biggest winner in global trade this year, according to recent surveys by Bloomberg News covering 75 countries and territories.

Bloomberg ranked the winners in global trade based on surpluses in their current accounts -- a broad measure of trade in goods and services -- as a percentage of GDP.

The measure tended to favor smaller exporting countries, such as Singapore, Taiwan and South Korea, in which trade accounts for large percentages of their economies, or smaller oil exporters.

Singapore led the overall ranking with a current account surplus of almost 20 percent of GDP, followed by Kuwait at nearly 12 percent, Taiwan at around 11 percent and South Korea in ninth place at roughly 7 percent.

Oil exporters Norway and Qatar ranked fourth and seventh respectively.

Asia's low labor costs continued to give its exporters an edge, the report said, with 11 of 13 of the region's economies tracked by Bloomberg expected to sell more abroad this year than what they import.

But Malaysia was the only other Asian country to make Bloomberg's top 15, ranking 15th with a surplus of just above 4 percent of GDP.

The surveys found that 36 economies are expected to see surpluses in their current accounts this year, Bloomberg said.

Western Europe is doing quite well in the current-account stakes, Bloomberg found, accounting for eight of the top 15 in its rankings, including the Netherlands (5th), Denmark (10th) and the world's No. 3 exporter, Germany (8th).

A strengthening Swiss franc meant Switzerland fell out of the double-digit club, with economists surveyed by Bloomberg forecasting a current account surplus of 8.3 percent of GDP, ranking it sixth in the world.

 

(By Timothy Hwang and Lilian Wu)

 

Link, http://focustaiwan.tw/news/aeco/201503240024.aspx 

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