Question

Obtain the most current Balance of Payments (BOP) of Singapore and briefly discuss surpluses or deficits on major accounts. What is the total amount of foreign reserve of this country? Please attach the BOP to your project and highlight all the potential numbers. Thank you!

Answer 1

Ans 1) Overall Balance of Payments = 4,141.1 Million Dollar Surplus

Note all the values are in Million Dollar unless stated - Please see table below for detailed explanation

1. Current Account Balance is surplus attributed to export of goods.
2. Goods Export - Goods Import is 33,679.8 Surplus
3. Services balance is almost flat with deficit of 201.2
4. Primary Income Balance and Secondary Income Balance both have deficit of -9544.2 and -1917.4 respectively
5. Capital and Financial Account able to attract funds worth 17687.9
6. Direct Investment has more liabilities than assets net 33256.2

Ans 2) Foreign Reserve Assets is 4052.5.- Please see table below for detailed explanation

	Million Dollars
Variables	2019 3Q
D Overall Balance of Payment (A-B+C)	4,141.1
A Current Account Balance	22,017
Goods Balance	33,679.8
Exports Of Goods	1,50,744.3
Imports Of Goods	1,17,064.5
Services Balance	-201.2
Exports Of Services	61,936.9
Manufacturing Services On Physical Inputs Owned By Others	60.8
Maintenance And Repair Services	2,593.3
Transport	17,350.4
Travel	6,928.2
Insurance	2,068
Government Goods And Services	102.9
Construction	257.3
Financial	9,661.6
Telecommunications, Computer & Information	4,477.3
Charges For The Use Of Intellectual Property	2,433.9
Personal, Cultural And Recreational	184.3
Other Business Services	15,818.9
Imports Of Services	62,138.1
Manufacturing Services On Physical Inputs Owned By Others	2,162.1
Maintenance And Repair Services	261.7
Transport	17,770.8
Travel	9,006.8
Insurance	1,620.3
Government Goods And Services	68.9
Construction	146
Financial	2,297.9
Telecommunications, Computer & Information	5,240.2
Charges For The Use Of Intellectual Property	5,025.9
Personal, Cultural And Recreational	159.2
Other Business Services	18,378.3
Primary Income Balance	-9,544.2
Primary Income Receipts	38,953.5
Primary Income Payments	48,497.7
Secondary Income Balance	-1,917.4
Secondary Income Receipts	4,130.4
Secondary Income Payments	6,047.8
B Capital & Financial Account Balance	17,687.9
Financial Account (Net)	17,687.9
Direct Investment	-33,256.2
Assets	11,729
Liabilities	44,985.2
Portfolio Investment	20,285.3
Assets	18,196.3
Deposit-taking Corporations, Except The Central Bank	2,049.4
Official	11,750.4
Others	4,396.5
Liabilities	-2,089
Deposit-taking Corporations, Except The Central Bank	-2,639.9
Others	550.9
Financial Derivatives	20,520.2
Assets	4,098.2
Liabilities	-16,422
Other Investment	10,138.6
Assets	40,144.8
Deposit-taking Corporations, Except The Central Bank	19,960.5
Official	12,118.8
Others	8,065.5
Liabilities	30,006.2
Deposit-taking Corporations, Except The Central Bank	27,311.7
Others	2,694.5
C Net Errors & Omissions	-188
Foreign Exchange Assets	4,052.5

Hope this helps - Feel free to share your feedback. Thanks and have a good day.