Chart of the Day: Balance of payments surplus slips to $4.4b in Q2

It fell by $12.6b compared to the previous quarter.

This chart from the Ministry of Trade and Industry Singapore (MTI) shows Singapore's balance of payments (BOP) fall to $4.4b in Q2 from $17b in Q1.

Net outflows from the capital and financial account accelerated, which outweighed the hike in the current account surplus.

The current account surplus rose from $20b in Q1 to $21b in Q2, due to an increase in the goods surplus. It largely offset higher deficits in both the country's primary and secondary income accounts.

Meanwhile, net outflows from the capital and financial account surged from $3.1b to $17b in the preceding quarter.

Portfolio investment transformed from net inflows to net outflows, whilst net inflows of direct investment and financial derivatives dropped. These factors covered the fall in the net outflows of “other investment”.