Singapore's current account surplus edged down to SGD 20.30 billion in the first quarter of 2019 from SGD 20.49 billion in the same period of 2018. The goods surplus inched down to SGD 31.22 billion in the first quarter 2019 from SGD 31.43 billion in Q1 2018 while the services deficit increased to SGD 0.57 billion from SGD 0.28 billion in Q1 2018. On the other hand, the primary income deficit fell slightly to SGD 8.27 billion from SGD 8.43 billion a year ago and the secondary income gap inched down to SGD 2.09 billion from SGD 2.23 billion in Q1 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 26700.00 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 21500.00 in 12 months time. In the long-term, the Singapore Current Account is projected to trend around 24800.00 SGD Million in 2020, according to our econometric models.