Bank loans in Singapore increased to SGD 684.9 billion in August 2019 from SGD 680.7 billion in the previous month, as lending to businesses rose (SGD 422.7 billion vs SGD 418.0 billion in July) while consumer loans went down slightly (SGD 262.1 billion vs SGD 262.7 billion). Within businesses, loans advanced for: financial institutions (SGD 102.8 billion vs SGD 101.7 billion); building and construction (SGD 143.3 billion vs SGD 141.6 billion); transport, storage & communication (SGD 25.9 billion vs SGD 25.5 billion); agriculture, mining and quarrying (SGD 3.1 billion vs SGD 2.9 billion); general commerce (SGD 67.1 billion vs SGD 65.7 billion), and business services (SGD 9.5 billion vs SGD 9.2 billion). Meanwhile, loan declined for manufacturing (SGD 27.9 billion vs SGD 28.0 billion). Loans to Private Sector in Singapore averaged 206570.41 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 692000.00 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 710000.00 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.