Current Account in Singapore

Singapore Current Account | Economic News & Forecasts

Singapore - Current Account

After easing in Q3, economic growth appears likely to slow further in Q4 as the favorable base effect continues to subside. This comes despite solid underlying dynamics: Healthy growth in non-oil exports through July–September will have likely continued into Q4 on the back of robust external demand for semiconductor products, as evidenced by the PMI for the electronics sector remaining well within expansionary territory in October. Moreover, the continued relaxing of entry restrictions for multiple countries and the easing of some domestic controls bodes well for activity in the final stretch of the year. That said, a spike in daily Covid-19 cases in October prompted authorities to announce that they will no longer pay Covid-19 medical bills for citizens who choose not to be vaccinated, in an effort to encourage even higher vaccination levels and to avoid overwhelming already-strained health services.

Singapore - Current Account Data

2015   2016   2017   2018   2019  
Current Account (% of GDP)18.7  17.6  16.3  17.2  17.0  

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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

Value Change Date
Bond Yield1.741.39 %Dec 31
Exchange Rate1.34-0.01 %Jan 01

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