FX.co ★ Singapore Posts Record Current Account Surplus in Q1

Singapore’s current account surplus rose to SGD 41.09 billion in the first quarter of 2026, up from SGD 32.72 billion in the same period of 2025. This was the largest surplus on record since the data series began in 1986, driven primarily by a sharp increase in the goods account surplus, which expanded to SGD 58.22 billion from SGD 48.93 billion a year earlier on the back of stronger exports.

In contrast, the services account surplus narrowed to SGD 10.95 billion from SGD 11.94 billion. The primary income deficit improved slightly, easing to SGD 23.98 billion from SGD 24.13 billion, while the secondary income deficit inched up to SGD 4.09 billion from SGD 4.02 billion over the same period.