Singapore Q4 Current Account Surplus Hits Record High

2026-02-12 02:42 By Chusnul Chotimah 1 min. read

Singapore’s current account surplus widened to SGD 40.24 billion in the fourth quarter of 2025, up from SGD 33.95 billion in the same period of 2024.

It was the largest surplus on record since the data began in 1986, as the goods account surplus increased to SGD 64.60 billion from SGD 62.09 billion a year earlier, amid a surge in exports, while the services account surplus rose to SGD 11.11 billion from SGD 10.57 billion.

Additionally, the primary income deficit narrowed to SGD 32.75 billion from SGD 36.34 billion over the same period.

Meanwhile, the secondary income deficit rose to SGD 2.72 billion from SGD 2.37 billion.

For the full year of 2025, the country posted a current account surplus of SGD 131.96 billion, widening slightly from SGD 131.67 billion in 2024.



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Singapore Q4 Current Account Surplus Hits Record High
Singapore’s current account surplus widened to SGD 40.24 billion in the fourth quarter of 2025, up from SGD 33.95 billion in the same period of 2024. It was the largest surplus on record since the data began in 1986, as the goods account surplus increased to SGD 64.60 billion from SGD 62.09 billion a year earlier, amid a surge in exports, while the services account surplus rose to SGD 11.11 billion from SGD 10.57 billion. Additionally, the primary income deficit narrowed to SGD 32.75 billion from SGD 36.34 billion over the same period. Meanwhile, the secondary income deficit rose to SGD 2.72 billion from SGD 2.37 billion. For the full year of 2025, the country posted a current account surplus of SGD 131.96 billion, widening slightly from SGD 131.67 billion in 2024.
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Singapore’s current account surplus narrowed to SGD 33.39 billion in the third quarter of 2025, down from SGD 33.89 billion in the same period of 2024. It was the smallest surplus since Q4 2024, as the goods account surplus fell to SGD 46.95 billion from SGD 48.18 billion a year earlier, amid a decline in exports, while the secondary income deficit widened to SGD 3.84 billion from SGD 3.25 billion. However, the services account surplus rose slightly to SGD 17.54 billion from SGD 17.38 billion. Meanwhile, the primary income deficit narrowed to SGD 27.27 billion from SGD 28.42 billion over the same period. Last year, the country posted a current account surplus of SGD 128.30 billion.
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Singapore’s current account surplus widened to SGD 34.80 billion in the second quarter of 2025, up from SGD 32.07 billion in the same period of 2024. The increase was driven by a higher services account surplus, which rose to SGD 15.12 billion from SGD 12.35 billion in Q2 2024, mainly due to stronger performance in manufacturing services and travel. Additionally, the primary income deficit narrowed to SGD 31.16 billion from SGD 33.97 billion over the same period. However, the goods account surplus decreased slightly to SGD 53.81 billion from SGD 55.41 billion, amid a surge in imports. Meanwhile, the secondary income deficit widened to SGD 2.97 billion from SGD 1.73 billion. Last year, the country registered a current account surplus of SGD128.30 billion.
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