Current Account in Singapore
Singapore - Current AccountThe economy posted the weakest expansion in Q1 year-on-year since the end of the Great Recession, as advance estimates showed the manufacturing sector tanked, sinking well below the average posted in 2018 on weaker precision engineering and electronics clusters. In contrast, the construction sector rebounded after 10 consecutive quarters of yoy declines, suggesting a stabilization in the real estate market, while the services sector gained speed. Although GDP by expenditure figures have yet to be released, annual retail sales in January and February recovered slightly compared to the Q4 average, indicating private consumption may have gained impetus in Q1. This follows a softer Q4 reading weighed on by notable slowdowns in household and government spending. On the political scene, Singapore and Malaysia resolved a recent spat on port boundary claims in mid-March, which should strengthen economic ties going forward.
Singapore - Current Account Data
|Current Account (% of GDP)||16.5||18.7||18.6||19.1||18.8|
5 years of economic forecasts for more than 30 economic indicators.
Singapore Current Account Chart
Source: Singapore Ministry of Trade and Industry and FocusEconomics calculations.
|Bond Yield||2.13||1.39 %||May 13|
|Exchange Rate||1.37||-0.01 %||May 13|
|Stock Market||3,234||0.18 %||May 13|
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May 17, 2019
Non-oil domestic exports (NODX) decreased by 10.0% year-on-year in April, slightly less than March’s 11.8% drop.
May 4, 2019
The manufacturing PMI produced by the Singapore Institute of Purchasing and Materials Management (SIPMM) ticked down to 50.3 points in April from 50.8 points in March, marking the weakest reading since November 2016.
April 23, 2019
Consumer prices decreased 0.1% over the previous month in March, contrasting the 0.5% uptick recorded in February.
April 17, 2019
Non-oil domestic exports (NODX) decreased by 11.7% year-on-year in March, contrasting February’s short-lived 4.8% increase (previously reported: +4.9% year-on-year).
April 12, 2019
At its first biannual meeting of 2019 held on 12 April, the Monetary Authority of Singapore (MAS) maintained the undisclosed rate of appreciation of the Singapore dollar nominal effective exchange rate (S$NEER) policy band.