Current Account in Singapore
Singapore - Current Account (billions of U.S. Dollars)First-quarter GDP growth was revised upwards to 3.7% from a preliminary reading of 3.4%. Manufacturing growth was stronger than previously estimated, while robust private consumption was supported by the reopening of the economy. Moving to the second quarter, the economy seems to be performing solidly. Industrial production expanded at a robust pace in April, supported by the transport engineering sector. Moreover, in April and May the manufacturing and electronics PMIs remained in expansionary territory. On the downside, export growth cooled in April, weighed down by Covid-19 lockdowns in China, although it regained traction in May. Meanwhile, the IMF concluded its Article IV Mission in late May, praising the government’s tightening monetary policy stance and prudent normalization of fiscal policy following its timely policy response to the pandemic.
Singapore - Current Account (USD bn) Data
|Current Account Balance (USD bn)||57.6||56.2||55.6||64.1||63.1|
5 years of economic forecasts for more than 30 economic indicators.
Singapore Current Account (USD bn) Chart
Source: Singapore Ministry of Trade and Industry and FocusEconomics calculations.
|Bond Yield||1.74||1.39 %||Dec 31|
|Exchange Rate||1.34||-0.01 %||Jan 01|
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January 17, 2023
Non-oil domestic exports (NODX) plummeted 20.6% year-on-year in December, on the heels of November’s 14.7% fall and marking the third consecutive monthly contraction.
January 17, 2023
GDP growth slowed markedly to 2.2% year on year in the fourth quarter, from 4.2% in the third quarter.
January 1, 2023
The Singapore Institute of Purchasing and Materials Management (SIPMM) Manufacturing PMI came in at 49.7 in December, down from 49.8 in November.
December 23, 2022
Inflation held steady at October's 6.7% in November, the joint-lowest inflation rate since June.
December 1, 2022
The Singapore Institute of Purchasing and Materials Management (SIPMM) Manufacturing PMI came in at 49.8 in November, up from October's 49.7.