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Market Update: Singapore Posts Largest Current Account Surplus on Record
Singapore’s current account surplus increased to SGD 24.63 billion in the first quarter of 2021 from SGD 19.69 billion in the same period of 2019. It was the largest current account surplus on record, as the services account surplus widened to SGD 4.94 billion from SGD 2 billion a year earlier, while the goods surplus increased to SGD 31.70 billion from SGD 30.17 billion a year ago. In addition, the secondary income gap declined to SGD 2.19 billion from SGD 2.38 billion in the same period of 2020, while the primary income deficit went down to SGD 9.83 billion from SGD 10.11 billion. source: Statistics Singapore [/s2If]
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