Current Account in Singapore

Singapore Current Account | Economic News & Forecasts

Singapore - Current Account

The 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

2013  2014  2015  2016  2017  
Current Account (% of GDP)16.5  18.7  18.6  19.1  18.8  

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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 Yield2.131.39 %May 13
Exchange Rate1.37-0.01 %May 13
Stock Market3,2340.18 %May 13

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