Singapore Current Account

Singapore posted a current account surplus of 24.7 SGD billion in the September quarter of 2016, compared to a 20.7 SGD billion surplus in the same period of 2015. 

It was the largest surplus on record, mainly driven by the surplus of goods account (30.7 SGD billion from 26.5 SGD billion, as exports of goods fell 3.4 percent while imports of goods dropped by 8.4 percent).

In contrast, the deficit of services account was at 0.63 SGD billion (from 0.66 SGD billion, as exports of services declined by 0.2 percent while imports of services rose 0.1 percent).

Primary income deficit stood at 2.90 SGD billion (from 2.66 SGD billion). Secondary income also posted a deficit of 2.50 SGD billion, compared to a gap of 2.4 SGD billion in the third quarter a year earlier. Considering January to September 2016, current account surplus came in at 66.1 SGD billion, larger than a surplus of 58.9 SGD billion in the same period of the prior year.

Current Account in Singapore averaged 8765.49 SGD Million from 1986 until 2016, reaching an all time high of 24666.70 SGD Million in the third quarter of 2016 and a record low of -659.20 SGD Million in the first quarter of 1987.