Singapore's current account surplus increased to SG$37.08 billion in the second quarter from SG$30.52 billion a year earlier, according to data from the Department of Statistics Singapore on Wednesday.
The increase was a result of higher goods exports during the quarter, which led to the goods account surplus rising to SG$70.4 billion in Q2 from SG$60.1 billion in the same period a year earlier. Services account surplus also increased to SG$14.3 billion from SG$12.3 billion.
The primary income deficit widened to SG$44.77 billion from SG$37.87 billion, while the secondary income deficit narrowed to SG$2.88 billion from SG$4 billion.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.