FX.co ★ Singapore Current Account Surplus Smallest in 3 Quarters

In the third quarter of 2025, Singapore experienced a reduction in its current account surplus, registering SGD 33.39 billion compared to SGD 33.89 billion during the same timeframe in 2024. This marks the smallest surplus since the fourth quarter of 2024. Contributing to this narrowing was a decrease in the goods account surplus, which fell to SGD 46.95 billion from the previous year's SGD 48.18 billion, primarily due to a decline in exports. Additionally, the secondary income deficit increased, reaching SGD 3.84 billion from SGD 3.25 billion. Conversely, there was a slight improvement in the services account surplus, rising to SGD 17.54 billion from SGD 17.38 billion. The primary income deficit also saw a contraction, decreasing to SGD 27.27 billion from SGD 28.42 billion. In the previous year, Singapore achieved an annual current account surplus of SGD 128.30 billion.