The Balance of Payments is a statement that summarises the economic transactions between residents of an economy and non-residents. It includes the overall balance of the current account and the capital and financial account, and these transactions are financed by official reserves.
- Current Account is a set of transactions consisting of exports and imports of goods and services, as well as primary and secondary income receipts and payments.
- Capital and Financial Account covers net acquisitions of foreign financial assets by Singapore residents and net incurrence of foreign liabilities by Singapore residents.
- Reserve Assets show the changes in Singapore’s foreign reserves holdings, consisting of Singapore’s official holdings of monetary gold and foreign exchange assets, as well as Singapore’s special drawing rights and reserve position in the International Monetary Fund.