Balance of Payments

Balance of Payments (1980 - 2017)

Balance of Payments consists of the current account and the capital and financial account. It summarizes the economic transactions between Singapore residents and non-residents. As of 2017, the current account surplus stood at $84.2 billion and amounted to 18.8 % of GDP at current market prices while the capital and financial account deficit recorded a net lending of $46.5 billion.
Current Account Balance

Since the late 1980s, Singapore has consistently posted current account surpluses annually, reflecting Singapore’s net earnings with respect to the rest of the world. The surpluses have historically been attributed to positive trade balances, with goods account surpluses driving the current account balances since 1995.
Capital and Financial Account Balance

Singapore has been posting capital and financial account net outflows on a yearly basis since 1994, in line with the net asset positions recorded in the international investment position. This reflects Singapore’s status as a net creditor nation.