Current Account to GDP in Singapore increased to 17.60 percent in 2020 from 14.30 percent in 2019. source: Statistics Singapore

Current Account to GDP in Singapore averaged 12.13 percent from 1980 until 2020, 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 August of 2021.

Current Account to GDP in Singapore is expected to reach 14.50 percent by the end of 2021, 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 14.00 percent in 2022, according to our econometric models.

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Singapore Current Account to GDP

Actual Previous Highest Lowest Dates Unit Frequency
17.60 14.30 26.10 -13.10 1980 - 2020 percent of GDP Yearly

Singapore Trade Last Previous Highest Lowest Unit
Balance of Trade 4609.61 6908.05 7973.33 -1999.81 Million SGD [+]
Current Account 24625.20 19622.60 24625.20 -659.20 SGD Million [+]
Current Account to GDP 17.60 14.30 26.10 -13.10 percent of GDP [+]
Imports 45025.93 44061.12 45221.60 266.38 Million SGD [+]
Exports 49635.54 50969.16 53137.76 197.68 Million SGD [+]
External Debt 2237428.00 2210679.90 2360156.70 854184.00 SGD Million [+]
Terms of Trade 100.18 98.50 174.30 96.39 points [+]
Capital Flows -6407.90 -16248.20 50498.80 -24268.40 SGD Million [+]
Tourist Arrivals 14190.00 25734.00 1802533.00 750.00 [+]
Gold Reserves 127.40 127.40 127.40 0.00 Tonnes [+]
Terrorism Index 0.00 0.00 0.00 0.00 [+]
Foreign Direct Investment 36212.10 30329.10 43061.00 -4441.60 SGD Million [+]
Exports of Non-oil Domestic Exports Of 6.00 -0.20 23.10 -16.80 percent [+]
Domestic Exports of Non Oil (nodx) (%yoy) 15.90 8.60 70.00 -34.90 percent [+]


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.