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Taiwan's Credit-card Spending Estimated to Hit New High of NT$1.9 Trillion in 2013

2014/01/16 | By Judy Li

Taiwan's credit card spending in November 2013 reached NT$152.7 billion (US$5.09 billion), down by NT$20 billion (US$666.67 million) from a month earlier, with first-11-month transactions rising to NT$1.737 trillion (US$57.9 billion), up 7.5% year on year.

Eight of the 11 months saw monthly spending of over NT$150 billion (US$5 billion), particularly that of June hitting a record monthly high of NT$186.6 billion (US$6.22 billion). The spending for 2013 is estimated to approach a new yearly high of NT$1.9 trillion (US$63.33 billion).

As of the end of November 2013, Taiwan's 36 credit card issuers had floated 36.73 million credit cards, of which 23.1 million cards were active or had been used in the last six months. In the same period, the outstanding revolving credit dropped to NT$119.1 billion (US$3.97 billion). (JL)