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Implementation of BPM6 - Singapore

Country Practices and Related Information

The Singapore Department of Statistics (DOS) compiles Singapore’s balance of payments (BOP), which summarises the economic transactions between Singapore residents and non-residents. Singapore’s BOP has been compiled in accordance with international standards set out in the Balance of Payments Manual, Fifth Edition (BPM5), first published by the International Monetary Fund (IMF) in 1993.

BPM5 has since been updated by the Balance of Payments and International Investment Position Manual, Sixth Edition (BPM6), which was released in 2009. Several important developments have occurred in the years following the publication of BPM5. These have necessitated changes to the methodological framework for the compilation of the BOP. BPM6 takes into account economic developments associated with globalisation, financial and technological innovations, as well as the increasing emphasis on the use of the balance sheet in examining vulnerabilities. In addition, BPM6 has been revised and updated in parallel with the 2008 United Nations System of National Accounts (SNA08) to enhance the consistency between international accounts and national accounts, strengthening the integration of both sets of macroeconomic statistics.

Custodian: Department of Statistics of Singapore


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