This article introduces the 2025 System of National Accounts (2025 SNA) and the seventh edition of the Integrated Balance of Payments and International Investment Position Manual (BPM7), two updated global statistical frameworks officially adopted in March 2025. Replacing the previous 2008 SNA and BPM6 standards, these frameworks better reflect the realities of a modern economy shaped by digitalisation, globalisation, and sustainability considerations, covering areas such as financial innovation, cross-border production, and environmental-economic accounting.
The Singapore Department of Statistics is actively preparing for the transition through a phased implementation plan from 2025 to 2030, encompassing user consultations, methodology reviews, capability building, and the development of experimental estimates ahead of full implementation under the new frameworks.