SINGAPORE’S BALANCE OF PAYMENTSOVER

SINGAPORE’S BALANCE OF PAYMENTS
OVERVIEW
Singapore’s balance of payments surplus rose from $7.8 billion in the third quarter of 2012 to $14 billion in the final quarter, mainly due to a narrower deficit in the capital and financial account. For the year as a whole, the balance of payments surplus rose to $33 billion, from $21 billion in 2011, also reflecting a smaller net outflow from the capital and financial account. Singapore’s official foreign reserves rose to $317 billion as at the end of 2012, equivalent to 8.0 months of merchandise IMPORTS.
CURRENT ACCOUNT
The current account surplus narrowed to $13 billion in the fourth quarter of 2012, from $17 billion in the preceding quarter (Exhibit 7.1). For the whole of 2012, the current account surplus fell to $64 billion (19 per cent of GDP), from $82 billion in 2011 (25 per cent of GDP). This was largely due to the decline in the goods surplus.In the fourth quarter, the surplus in the goods
balance narrowed by $4.4 billion to $16 billion (Exhibit 7.2). Similarly, a smaller surplus of $76 billion was recorded for the whole of 2012, compared to the $91 billion surplus registered in the previous year, as IMPORTS rose while exports fell.The services account turned from a slight surplus in the previous quarter to a $0.1 billion deficit in the fourth quarter. For the full year, the services surplus narrowed to $0.5 billion, from $0.9 billion in 2011, mainly as a result of lower net receipts from maintenance and repair services.The deficit in the primary income balance declined to $1.0 billion in the fourth quarter, compared to $1.6 billion in the preceding quarter. However, for the full year in 2012, the deficit widened to $3.9 billion, from $2.7 billion in 2011. While income receipts from residents’ overseas investments increased during the year, income payments to foreign investors rose by a larger magnitude.

Results (English) 1:

SINGAPORE'S BALANCE OF PAYMENTSOVERVIEWSingapore's balance of payments surplus rose from $7.8 billion in the third quarter of 2012 to $14 billion in the final quarter, mainly due to a narrower deficit in the capital and financial account. For the year as a whole, the balance of payments surplus rose to $33 billion, from $21 billion in 2011, also reflecting a smaller net outflow from the capital and financial account. Singapore's official foreign reserves rose to $317 billion as at the end of 2012, equivalent to 8.0 months of merchandise IMPORTS.CURRENT ACCOUNTThe current account surplus narrowed to $13 billion in the fourth quarter of 2012, from $17 billion in the preceding quarter (Exhibit 7.1). For the whole of 2011, the current account surplus fell to $64 billion (19 per cent of GDP), from $82 billion in 2011 (25 per cent of GDP). This was largely due to the decline in the goods surplus. In the fourth quarter, the surplus in the goodsbalance narrowed by $4.4 billion to $16 billion (Exhibit 7.2). Similarly, a smaller surplus of $76 billion was recorded for the whole of 2011, compared to the $91 billion surplus registered in the previous year, as IMPORTS rose while exports fell. The services account turned from a slight surplus in the previous quarter to a $0.1 billion deficit in the fourth quarter. For the full year, the services surplus narrowed to $0.5 billion, from $0.9 billion in 2011, mainly as a result of lower net receipts from maintenance and repair services. The deficit in the balance of primary income declined to $1.0 billion in the fourth quarter, compared to $1.6 billion in the preceding quarter. However, for the full year in 2012, the deficit widened to $3.9 billion, from $2.7 billion in 2011. While income receipts from residents ' overseas investments increased during the year, the income payments to foreign investors rose by a larger magnitude.

Results (English) 2:

BALANCE OF PAYMENTS SINGAPORE'S
OVERVIEW
balance of payments surplus of Singapore's rose from $ 7.8 Billion in the third quarter of 2012 to $ 14 Billion in the final quarter, mainly Due to a deficit in the capital and rộng ít Financial account. For the year as a whole, the balance of payments surplus rose to $ 33 Billion, $ 21 Billion in 2011 from, reflecting a smaller net outflow cũng khỏi Capital and Financial account. Singapore's official Foreign Reserves rose to $ 317 Billion as at the end of 2012, equivalent to 8.0 months of merchandise imports.
CURRENT ACCOUNT
The current account surplus narrowed to $ 13 Billion in the fourth quarter of 2012, from $ 17 Billion in the PRECEDING quarter (Exhibit 7.1 ). For the whole of 2012, the current account surplus to $ 64 Billion Fell (19 per cent of GDP), from $ 82 Billion in 2011 (25 per cent of GDP). This was largely Due to the decline in the Method for the fourth quarter surplus.In, the surplus in the Method for
$ 4.4 Billion by balance narrowed to $ 16 Billion (Exhibit 7.2). Similarly, a smaller surplus of $ 76 Billion was thu for the whole of 2012, sánh to the $ 91 Billion surplus registered in the previous year, as imports rose while exports fell.The services account Turned from a slight surplus in the previous quarter to a $ 0.1 Billion in the fourth quarter deficit. For the full year, the services surplus narrowed to $ 0.5 Billion, from $ 0.9 Billion in 2011, mainly as a result of lower net receipts from maintenance and repair services.The deficit in the primary income balance Declined to $ 1.0 Billion in the fourth quarter, sánh to $ 1.6 Billion in the PRECEDING quarter. Tuy nhiên, for the full year in 2012, the deficit widened to $ 3.9 Billion, $ 2.7 Billion in 2011 from income While receipts from Residents' Overseas Investments Increased khi the year, payments to the foreign income rose by a larger magnitude Investors.