This article examines key trends in Singapore's Current Account in the Balance of Payments, tracing how its four components, namely goods, services, primary income, and secondary income, have evolved over time and responded to recent global economic developments.
Singapore has consistently recorded current account surpluses since the mid-1990s, reaching $132.0 billion in 2025, primarily driven by the goods account. The services account has also strengthened significantly, shifting from deficit to sustained surplus from 2018, while persistent deficits in the primary and secondary income accounts largely reflect features of Singapore's open economy, including substantial foreign investment and a sizeable foreign workforce.