Balance of Payments is a statistical statement that summarizes transactions between residents and nonresidents during a period. The balance of payments comprises the current account, the capital account, and the financial account. "Together, these accounts balance in the sense that the sum of the entries is conceptually zero.
Balance of Payment can be used as an indicator of economic and political stability. For e.g. if a country has a consistently positive BOP, it would mean that there is significant foreign investment within that country. It also includes the trade balance, foreign investments and investments by foreigners.
Balance of Payments in Singapore
The Balance of Payments in Singapore from 1998 to 2008 is as follows. All the figures are in (S$in million).
|
|
1998
|
2003
|
2004
|
2005
|
2006
|
2007
|
2008
|
|
Current Account Balance
|
30,622.9
|
38,438.8
|
33,616.9
|
45,721.7
|
56,221.5
|
59,092.0
|
38,176.8
|
|
Goods Balance
|
24,226.4
|
51,105.7
|
51,842.2
|
60,563.8
|
67,946.1
|
71,063.6
|
43,470.4
|
|
Exports Of Goods
|
200,404.5
|
281,634.0
|
336,887.6
|
387,349.7
|
436,506.3
|
457,639.2
|
43470.4
|
|
Imports Of Goods
|
176,178.1
|
230,528.3
|
285,045.4
|
326,785.9
|
368,560.2
|
386,575.6
|
442,219.7
|
|
Services Balance
|
4,300.4
|
-6382.9
|
-4,887.6
|
-3,040.0
|
-1,103.1
|
8,630.5
|
5,626.4
|
|
Exports Of Services
|
37,743.2
|
63,302.9
|
79,162.7
|
88,646.4
|
101,835.6
|
121,484.3
|
117,546.6
|
|
Transportation
|
14,884.4
|
23,294.4
|
28,694.1
|
31,690.7
|
35,742.2
|
42,705.6
|
40,791.5
|
|
Travel
|
7,701.5
|
6,689.6
|
8,996.1
|
10,337.0
|
11,973.4
|
13,808.0
|
14,962.4
|
|
Insurance
|
527.5
|
2,141.4
|
2,220.2
|
2,008.6
|
2,516.1
|
2,557.3
|
2,645.4
|
|
Government
|
157.0
|
160.4
|
174.8
|
180.4
|
180.3
|
178.0
|
207.0
|
|
Construction
|
330.1
|
742.6
|
1,093.8
|
901.3
|
881.5
|
1,051.6
|
1,264.9
|
|
Financial
|
2,000.8
|
2,203.6
|
4,140.9
|
5,073.7
|
6,826.2
|
9,867.1
|
9,296.0
|
|
Computer & Information
|
416.6
|
699.0
|
819.4
|
855.2
|
1,928.6
|
2,071.8
|
2,224.4
|
|
Communications
|
-
|
719.1
|
835.7
|
931.9
|
1,178.3
|
1,452.7
|
1,864.4
|
|
Royalties
|
96.4
|
342.2
|
836.7
|
1,038.1
|
1,014.9
|
1,237.3
|
1,186.2
|
