Chart of the Day: Singapore posts $7.8b surplus in balance of payments in Q2

It was backed by the increase in current account surplus.

This chart from the Ministry of Trade and Industry (MTI) shows that the overall balance of payments saw a larger surplus of $7.8b in Q2 compared to $6.8b in Q1.

“This resulted from both an increase in the current account surplus as well as a decline in net outflows from the capital and financial account,” MTI explained.

Meanwhile, the current account surplus rose to $23b in Q2 which is up from $21b in Q1 backed by an increase in the goods account surplus paired with smaller deficits in the services and primary income balances.

Moreover, net outflows from the capital and financial account dipped to $14b from $15b in the Q1 amidst the rise in the net inflows of direct investment and a fall in the net outflows of other investment.