Taiwan average household wealth nears USD590K

Taiwan’s average net household wealth hit a record NTD18.89m (USD589,999) in 2023, up 6.56% from a year earlier, driven by gains in securities and deposits, the statistics agency said. The rise was supported by a 26.83% jump in the TAIEX, boosting securities’ value by NTD610,000, while interest rate hikes increased time and foreign currency deposits by NTD160,000. Real estate remained the largest asset class at 30.49%, followed by insurance and pension reserves, and securities. Household debt also rose to a record NTD2.42m. Excluding insurance and pensions, average wealth was NTD14.77m, up 7.65%. Taiwan’s gross national wealth stood at NTD320.48tr, with net national wealth at NTD252.82tr, both up from 2022, according to the Directorate-General of Budget, Accounting and Statistics.