Singapore's current account surplus narrowed to SGD 23.40 billion in the third quarter of 2018 from SGD 25.05 billion in the same period of 2017. The goods surplus edged up to SGD 32.04 billion in the third quarter 2018 from SGD 31.48 billion in the same period of 2017 while the primary income deficit rose sharply to SGD 4.97 billion from SGD 2.50 billion a year ago and the secondary income gap inched up to SGD 2.17 billion from SGD 2.14 billion. On the other hand, the services deficit declined to SGD 1.50 billion from SGD 1.78 billion in Q2 2017. Current Account in Singapore averaged 9442.13 SGD Million from 1986 until 2018, reaching an all time high of 25054.10 SGD Million in the third quarter of 2017 and a record low of -659.20 SGD Million in the first quarter of 1987.
Current Account in Singapore is expected to be 22000.00 SGD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Singapore to stand at 26000.00 in 12 months time. In the long-term, the Singapore Current Account is projected to trend around 24000.00 SGD Million in 2020, according to our econometric models.