Current Account in Singapore
Singapore - Current Account (billions of U.S. Dollars)First-quarter GDP growth was revised upwards to 3.7% from a preliminary reading of 3.4%. Manufacturing growth was stronger than previously estimated, while robust private consumption was supported by the reopening of the economy. Moving to the second quarter, the economy seems to be performing solidly. Industrial production expanded at a robust pace in April, supported by the transport engineering sector. Moreover, in April and May the manufacturing and electronics PMIs remained in expansionary territory. On the downside, export growth cooled in April, weighed down by Covid-19 lockdowns in China, although it regained traction in May. Meanwhile, the IMF concluded its Article IV Mission in late May, praising the government’s tightening monetary policy stance and prudent normalization of fiscal policy following its timely policy response to the pandemic.
Singapore - Current Account (USD bn) Data
|Current Account Balance (USD bn)||57.6||56.2||55.6||64.1||63.1|
5 years of economic forecasts for more than 30 economic indicators.
Singapore Current Account (USD bn) Chart
Source: Singapore Ministry of Trade and Industry and FocusEconomics calculations.
|Bond Yield||1.74||1.39 %||Dec 31|
|Exchange Rate||1.34||-0.01 %||Jan 01|
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November 7, 2022
Inflation came in at 7.5% in September, matching August’s figure, which had marked the highest inflation rate since June 2008.
October 20, 2022
Non-oil domestic exports (NODX) rose 3.1% on an annual basis in September, on the heels of August’s 11.4% jump.
October 17, 2022
At its meeting on 14 October, the Monetary Authority of Singapore (MAS) re-centered the policy band of the Singapore dollar’s nominal effective exchange rate (S$NEER) to its prevailing level.
October 17, 2022
The economy expanded 1.5% in seasonally adjusted quarter-on-quarter terms in Q3, bouncing back from the 0.2% contraction recorded in the prior quarter and beating market expectations.
October 14, 2022
Inflation came in at 7.5% in August, up from July’s 7.0%.