Bank loans in Singapore inched higher to an all-time high of SGD 676.3 billion in April 2019 from SGD 676.1 billion in the previous month, as lending to businesses rose to SGD 411.7 billion (vs SGD 411.5 billion in March) while consumer loans edged down to SGD 264.6 billion (vs SGD 264.7 billion). Within businesses, loans went up for: construction (SGD 138.9 billion vs SGD 136.6 billion); business services (SGD 9.6 billion vs SGD 9.2 billion). On the other hand, loans declined for: transport, storage & communication (SGD 25.3 billion vs SGD 25.5 billion); financial institutions (SGD 97.7 billion vs SGD 98.4 billion); general commerce (SGD 65.9 billion vs SGD 67.6 billion); manufacturing (SGD 26.8 billion vs SGD 27.3 billion), and agriculture, mining and quarrying (SGD 2.7 billion vs SGD 2.9 billion). Loans to Private Sector in Singapore averaged 206570.41 SGD Million from 1980 until 2018, reaching an all time high of 673253.80 SGD Million in June of 2018 and a record low of 16439.80 SGD Million in January of 1980.
Loans to Private Sector in Singapore is expected to be 692000.00 SGD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Loans to Private Sector in Singapore to stand at 710000.00 in 12 months time. In the long-term, the Singapore Loans to Private Sector is projected to trend around 715000.00 SGD Million in 2020, according to our econometric models.