External balance on goods and services in Singapore
Singapore: External balance on goods and services was 35.4% in 2025. ◆ Volatile
External balance on goods and services in Singapore, 1960–2025
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in % of GDP.
Analysis
Singapore recorded 35.4% for external balance on goods and services in 2025.
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 in Singapore peaked at 39.8% in 2022 and was at its lowest, -20.4%, in 1971.
That places Singapore 4th out of 193 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 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)
- Total reserves minus gold (current US$), annual growth rate 10.79 % change on previous year (2025)
- Total reserves minus gold (current US$), per unit of GDP 0.6706 current US$ per US$ of GDP (2025)
- Total reserves minus gold (current US$), per capita 66,261 current US$ per person (2025)
- General government final consumption expenditure (current US$) 7.49 % change on previous year (2025)
- General government final consumption expenditure (current US$), per 0.1025 current US$ per US$ of GDP (2025)
- General government final consumption expenditure (current US$), per 10,130 current US$ per person (2025)
- General government final consumption expenditure (current LCU) 5.18 % change on previous year (2025)
- General government final consumption expenditure (current LCU), per 0.134 current LCU per US$ of GDP (2025)
Frequently asked questions
- What is external balance on goods and services in Singapore?
- External balance on goods and services in Singapore was 35.4% in 2025, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest external balance on goods and services recorded in Singapore?
- The highest recorded value was 39.8% in 2022.
- What is the lowest external balance on goods and services recorded in Singapore?
- The lowest recorded value was -20.4% in 1971.
- How does Singapore rank for external balance on goods and services?
- Singapore ranks 4th out of 193 countries with data for 2025.
- Is external balance on goods and services 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 Country official statistics, National Statistical Organizations and/or Central Banks, published as part of External balance on goods and services (% of GDP). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 66 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
The balance of international trade in goods and services is the difference between the exports and imports of goods and services. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.