External balance on goods and services as a percent of GDP in Singapore
Singapore: External balance on goods and services as a percent of GDP was 35.4% in 2025. ◆ Volatile
Latest (2025)
35.4%
Change on year
down 1.7%
World rank
4th
of 191 countries
All-time high
39.8%
in 2022
All-time low
-20.4%
in 1971
Years of data
66
1960–2025
External balance on goods and services as a percent of GDP in Singapore, 1960–2025
Source: National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data. Measured in % of GDP.
Analysis
In 2025, external balance on goods and services as a percent of gdp in Singapore stood at 35.4%.
Compared with earlier readings it is down 1.7% on the previous year and up 29.7% over ten years.
Over the whole period, external balance on goods and services as a percent of gdp in Singapore peaked at 39.8% in 2022 and was at its lowest, -20.4%, in 1971.
That places Singapore 4th out of 191 countries with data for 2025, putting it in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
External balance on goods and services as a percent of GDP in Singapore, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1960 | -13.7% | — |
| 1961 | -14.6% | +6.6% |
| 1962 | -10.4% | -28.5% |
| 1963 | -14.6% | +40.1% |
| 1964 | -10.9% | -25.5% |
| 1965 | -11.1% | +1.9% |
| 1966 | -7.2% | -34.7% |
| 1967 | -7.3% | +1.8% |
| 1968 | -5.5% | -25.4% |
| 1969 | -9.4% | +72.4% |
| 1970 | -19.0% | +101.2% |
| 1971 | -20.4% | +7.2% |
| 1972 | -15.6% | -23.5% |
| 1973 | -9.1% | -41.9% |
| 1974 | -15.0% | +65.9% |
| 1975 | -9.3% | -37.9% |
| 1976 | -6.9% | -25.6% |
| 1977 | -1.5% | -78.9% |
| 1978 | -3.7% | +154.1% |
| 1979 | -5.7% | +51.8% |
| 1980 | -6.9% | +22.4% |
| 1981 | -3.4% | -50.7% |
| 1982 | -1.8% | -46.3% |
| 1983 | 0.6% | -131.9% |
| 1984 | -0.2% | -133.4% |
| 1985 | 0.3% | -253.5% |
| 1986 | 2.6% | +779.1% |
| 1987 | 3.0% | +12.6% |
| 1988 | 9.6% | +222.1% |
| 1989 | 11.0% | +15.2% |
| 1990 | 10.1% | -8.8% |
| 1991 | 13.2% | +31.3% |
| 1992 | 12.1% | -8.1% |
| 1993 | 9.9% | -18.6% |
| 1994 | 16.2% | +63.6% |
| 1995 | 16.8% | +3.8% |
| 1996 | 16.4% | -2.4% |
| 1997 | 14.7% | -10.1% |
| 1998 | 21.5% | +45.9% |
| 1999 | 17.0% | -20.9% |
| 2000 | 12.3% | -27.4% |
| 2001 | 16.5% | +33.7% |
| 2002 | 18.4% | +11.7% |
| 2003 | 28.0% | +51.7% |
| 2004 | 26.4% | -5.6% |
| 2005 | 29.9% | +13.3% |
| 2006 | 30.7% | +2.8% |
| 2007 | 31.3% | +1.8% |
| 2008 | 20.7% | -33.9% |
| 2009 | 23.5% | +13.7% |
| 2010 | 26.3% | +12.0% |
| 2011 | 27.6% | +4.7% |
| 2012 | 24.2% | -12.1% |
| 2013 | 23.1% | -4.6% |
| 2014 | 23.4% | +1.4% |
| 2015 | 27.3% | +16.5% |
| 2016 | 26.3% | -3.8% |
| 2017 | 26.5% | +1.1% |
| 2018 | 29.7% | +11.9% |
| 2019 | 29.4% | -1.1% |
| 2020 | 31.3% | +6.5% |
| 2021 | 35.8% | +14.4% |
| 2022 | 39.8% | +11.1% |
| 2023 | 37.2% | -6.6% |
| 2024 | 36.0% | -3.1% |
| 2025 | 35.4% | -1.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | -10.5% | -14.6% | -5.5% | 10 |
| 1970s | -10.6% | -20.4% | -1.5% | 10 |
| 1980s | 1.5% | -6.9% | 11.0% | 10 |
| 1990s | 14.8% | 9.9% | 21.5% | 10 |
| 2000s | 23.8% | 12.3% | 31.3% | 10 |
| 2010s | 26.4% | 23.1% | 29.7% | 10 |
| 2020s | 35.9% | 31.3% | 39.8% | 6 |
Countries ranked near Singapore
- 1 Macau, China 45.4% compare
- 2 Ireland 40.2% compare
- 3 Qatar 37.0% compare
- 5 Luxembourg 31.2% compare
- 6 San Marino 31.0% compare
- 7 Bermuda 30.1% compare
More economy & growth data for Singapore
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.99 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2.5 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 94.20 billion BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.156 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 15,415 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 159.09 billion BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual 17.78 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.2634 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 26,032 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 12.55 % change on previous year (2025)
Frequently asked questions
- What is external balance on goods and services as a percent of gdp in Singapore?
- External balance on goods and services as a percent of gdp in Singapore was 35.4% in 2025, according to National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data.
- What is the highest external balance on goods and services as a percent of gdp recorded in Singapore?
- The highest recorded value was 39.8% in 2022.
- What is the lowest external balance on goods and services as a percent of gdp recorded in Singapore?
- The lowest recorded value was -20.4% in 1971.
- How does Singapore rank for external balance on goods and services as a percent of gdp?
- Singapore ranks 4th out of 191 countries with data for 2025.
- Is external balance on goods and services as a percent of gdp rising or falling in Singapore?
- Over the last ten years it is up 29.7%. The long-run trend across the full record is volatile.
- Where does this Singapore data come from?
- The figures come from National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data, published as part of External balance on goods and services as a percent of GDP. Statizoid updates them automatically from the source API.
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About this data
Exports of goods and services minus imports of goods and services divided by gross domestic product, expressed as a percentage.