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《TAIPEI TIMES》 Average wealth per household at NT$16.38 million


Census Department Director Pan Ning-hsin delivers the findings of a household wealth report at a news conference in Taipei yesterday.
Photo: Clare Cheng, Taipei Times

Census Department Director Pan Ning-hsin delivers the findings of a household wealth report at a news conference in Taipei yesterday. Photo: Clare Cheng, Taipei Times

2024/04/30 03:00

By Chen Cheng-hui / Staff reporter

Taiwan’s average wealth per household was NT$16.38 million (US$503,102) at the end of 2021, with about 71 percent of households coming in below the average, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday.

Median wealth per household was NT$8.94 million, said the agency, which released the data for the first time in 30 years.

The Gini coefficient for Taiwanese households — a measure of inequality where zero indicates complete equality of wealth and one indicates complete inequality — was 0.606 at the end of 2021, lower than Australia’s 0.611, the UK’s 0.620, Japan’s 0.678, France’s 0.676 and Germany’s 0.727, the agency said in a report.

The average wealth among the top 20 percent of Taiwanese households was NT$51.33 million in 2021, accounting for 62.68 percent of total household wealth, while the average for the bottom 20 percent was NT$770,000, or 0.94 percent of the total, the data showed.

As a result, the average household wealth for the top 20 percent was 66.9 times higher than for the bottom 20 percent, lower than Australia’s 93.1 times, the UK’s 109.5, South Korea’s 140.1 and France’s 627.4, meaning that household wealth distribution is relatively even in Taiwan, the DGBAS said.

The last time the agency released a wealth report was in 1992.

Unlike the previous report, which was based on a survey of households, the latest report was compiled using surveys of family income and expenditure, along with other household data such as assets and liabilities, the agency said, urging caution when making comparisons as the two reports used different data collection and statistical methods.

In 1992, the average household wealth was NT$5.26 million, with the top 20 percent’s wealth 16.6 times higher than that of the bottom 20 percent, DGBAS data showed.

The agency also reported that Taiwan’s gross national wealth was NT$310.61 trillion at the end of 2022, an increase of NT$26.18 trillion, or 9.2 percent, from the end of 2021, while net national wealth was NT$247.14 trillion, also an increase of NT$21.72 trillion, or 9.63 percent, from a year earlier.

National wealth statistics represent the current value of all goods owned by the people in a nation at the end of year, the agency said.

Gross national wealth is the total value of net assets on current prices owned by five sectors: households, non-profit institutions, non-financial enterprises, financial enterprises and government, and net national wealth represents the assets value of gross national wealth with depreciation being deducted, it said.

At the end of 2022, the net worth — assets minus liabilities — of the household sector was NT$159.08 trillion, accounting for 64.37 percent of the net worth of all sectors, the report showed.

新聞來源:TAIPEI TIMES

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