Current Account in Singapore
Singapore - Current AccountComprehensive 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
|Current Account (% of GDP)||15.7||17.9||17.2||17.5||16.4|
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||1.69||1.39 %||Sep 04|
|Exchange Rate||1.38||-0.01 %||Sep 04|
|Stock Market||3,131||0.18 %||Sep 04|
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August 23, 2019
Consumer prices decreased 0.4% over the previous month in July, following June’s 0.2% fall.
August 16, 2019
Non-oil domestic exports (NODX) decreased 11.2% year-on-year in July, weaker than June’s 17.4% plunge (previously reported: -17.3% year-on-year).
August 13, 2019
Comprehensive national accounts data released on 13 August confirmed that economic growth slowed sharply in the second quarter.
Singapore: Manufacturing and electronics PMIs continues to point to contraction despite slight increase in July
August 3, 2019
The manufacturing PMI produced by the Singapore Institute of Purchasing and Materials Management (SIPMM) inched up to 49.8 points in July from 49.6 in June.
July 23, 2019
Consumer prices decreased 0.2% over the previous month in June, following the 0.7% increase recorded in May.