Singapore's current account surplus declined to SGD 21.50 billion in the second quarter of 2019 from SGD 24.53 billion in the same period of 2018. The goods surplus dropped to SGD 33.07 billion in the second quarter 2019 from SGD 34.81 billion in Q2 2018 while the deficit of both services account (SGD 1.07 billion from SGD 0.48 billion in Q2 2018) and the primary income (SGD 8.15 billion from SGD 7.32 billion) widened. On the other hand, the secondary income deficit inched down to SGD 2.35 billion from SGD 2.47 billion in Q2 2018. Current Account in Singapore averaged 9505.41 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 24000.00 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 22500.00 in 12 months time. In the long-term, the Singapore Current Account is projected to trend around 16800.00 SGD Million in 2020, according to our econometric models.