Current Account in Singapore

Singapore Current Account | Economic News & Forecasts

Singapore - Current Account

Comprehensive GDP data confirmed Singapore’s economy posted the worst quarterly performance in a decade in the second quarter. A sharp contraction in net exports of goods and services—amid the U.S.-China trade war and weaker global demand for technology—led the downturn. Moreover, private consumption growth decelerated, while fixed investment posted a steeper decline than in Q1. Turning to the third quarter, momentum will likely remain tepid. In July, the manufacturing and electronics PMIs remained in contractionary territory, despite improving slightly, while non-oil domestic exports were down. Moreover, the recent escalation of the trade war could weigh further on the external sector for the remainder of the quarter. However, a tight labor market should support private consumption growth and prop up domestic activity.

Singapore - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)15.7  17.9  17.2  17.5  16.4  

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Singapore Current Account Chart

Singapore Current Account
Note: Current account balance as % of GDP.
Source: Singapore Ministry of Trade and Industry and FocusEconomics calculations.

Singapore Facts

Bond Yield1.691.39 %Sep 04
Exchange Rate1.38-0.01 %Sep 04
Stock Market3,1310.18 %Sep 04

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