FX.co ★ Singapore Q4 Current Account Surplus Hits Record High

Singapore’s current account surplus widened to SGD 40.24 billion in the fourth quarter of 2025, up from SGD 33.95 billion in the same period of 2024. This marked the largest surplus on record since data collection began in 1986.

The expansion was driven primarily by a larger goods surplus, which rose to SGD 64.60 billion from SGD 62.09 billion a year earlier, supported by a surge in exports. At the same time, the services account surplus increased to SGD 11.11 billion from SGD 10.57 billion.

On the income side, the primary income deficit narrowed to SGD 32.75 billion from SGD 36.34 billion over the same period, while the secondary income deficit widened slightly to SGD 2.72 billion from SGD 2.37 billion.

For the full year 2025, Singapore recorded a current account surplus of SGD 131.96 billion, edging up from SGD 131.67 billion in 2024.