Singapore recorded a Current Account surplus of 16.90 percent of the country's Gross Domestic Product in 2019.

Current Account to GDP in Singapore averaged 12.08 percent from 1980 until 2019, reaching an all time high of 26.10 percent in 2007 and a record low of -13.10 percent in 1980. This page provides - Singapore Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. Singapore Current Account to GDP - values, historical data and charts - was last updated on July of 2020. source: Statistics Singapore

Current Account to GDP in Singapore is expected to reach 17.00 percent by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the Singapore Current Account to GDP is projected to trend around 16.50 percent in 2021 and 15.50 percent in 2022, according to our econometric models.

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Singapore Current Account to GDP

Actual Previous Highest Lowest Dates Unit Frequency
16.90 17.70 26.10 -13.10 1980 - 2019 percent Yearly

Singapore Trade Last Previous Highest Lowest Unit
Balance of Trade 4520.16 2460.22 7973.33 -1999.81 Million SGD [+]
Current Account 15541.20 19600.60 25762.20 -659.20 SGD Million [+]
Current Account to GDP 16.90 17.70 26.10 -13.10 percent [+]
Imports 32994.41 36017.16 44569.74 266.38 Million SGD [+]
Exports 37514.57 38477.38 48934.79 197.68 Million SGD [+]
External Debt 2360156.70 2123229.90 2360156.70 854184.00 SGD Million [+]
Terms of Trade 102.07 103.04 174.30 96.67 points [+]
Capital Flows 9062.10 15105.90 55757.90 -5143.10 SGD Million [+]
Tourist Arrivals 748.00 239885.00 1802025.00 748.00 [+]
Gold Reserves 127.40 127.40 127.40 0.00 Tonnes [+]
Terrorism Index 0.00 0.00 0.00 0.00 [+]
Foreign Direct Investment 37792.20 36308.70 43061.00 -4441.60 SGD Million [+]


Singapore Current Account to GDP
The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.