Current account balance | Singapore – yearly data, chart and table
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In constant 2015 dollars
In local currency (average annual exchange rate)
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Overview
The account balance of Singapore in 2024 amounted to 96 015 million USD. In 2023 it was 89 403 million USD. This is the first year of growth after a decline. Over the entire data period of International Monetary Fund (IMF), since 1980, this indicator has increased 97 628million USD. The lowest account balance was recorded in 1980, when it was -1 613 million USD. The highest value of Singapore was in 2024, when it reached 96 015 million USD. This indicator is related to the balance of payments, which is a statement that summarizes economic transactions between residents and nonresidents during a specific time period. It consists of the goods and services account (the trade balance), the primary account, the secondary income account, the capital account, and the financial account.
Additional infomation:
About indicator
The balance of payments is a double-entry accounting system that shows all flows of goods and services into and out of an economy; all transfers that are the counterpart of real resources or financial claims provided to or by the rest of the world without a quid pro quo, such as donations and grants; and all changes in residents' claims on and liabilities to nonresidents that arise from economic transactions. All transactions are recorded twice - once as a credit and once as a debit. In principle the net balance should be zero, but in practice the accounts often do not balance, requiring inclusion of a balancing item, net errors and omissions.
