Current Account in Singapore

Singapore Current Account | Economic News & Forecasts

Singapore - Current Account

The economy came to a near stand-still in the second quarter according to preliminary GDP data, dragged down by floundering manufacturing production amid the ongoing U.S.-China trade war and lackluster tech demand. Other data throughout the quarter points to a broad-based weakening. Both the manufacturing and electronics PMIs fell further into contractionary territory in June, driven mainly by declining output and new orders. Moreover, non-oil domestic exports posted the sharpest contraction in annual terms in over three years in May, owing to weaker global demand for tech amid swirling trade tensions. Similarly, retail sales fell again in May as consumers likely responded to greater international uncertainty, boding poorly for private consumption in the quarter. This follows a limp Q1, which was hit by a contraction in exports of goods and services, and only partially offset by an increase in private consumption growth.

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

ValueChangeDate
Bond Yield1.921.39 %Jul 11
Exchange Rate1.36-0.01 %Jul 11
Stock Market3,3500.18 %Jul 11

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