Bank loans in Singapore was almost unchanged at SGD 671.9 billion in November 2018 from SGD 671.7 billion in the previous month, as consumer loans edged up to SGD 266.3 billion (from SGD 266 billion in October) while lending to businesses inched down to SGD 405.6 billion (from SGD 405.8 billion). Within businesses, loans went up for: construction (SGD 134.7 billion from SGD 133.1 billion in October); business services (SGD 9.8 billion from SGD 9.7 billion); transport, storage & communication (SGD 24.2 billion from SGD 24.0 billion); general commerce (SGD 65.1 billion from SGD 66.4 billion). Meanwhile, loans declined for: manufacturing (SGD 26.0 billion from SGD 26.5 billion); agriculture, mining and quarrying (SGD 3.1 billion from SGD 3.3 billion); and financial institutions (SGD 100.6 billion from SGD 100.8 billion). Compared to November 2017, bank loans went up by 2.8 percent from SGD 653.7 billion. Loans to Private Sector in Singapore averaged 204577.86 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 669000.00 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 705000.00 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.