SINGAPORE, Jan. 1 (Xinhua) -- Singapore's net asset position in the international investment position (IIP) rose by 0.6 percent quarter-on-quarter, from 1,112 billion Singapore dollars (about 823 billion U.S. dollars) to 1,118 billion Singapore dollars as of the end of the third quarter of 2024, according to the latest data released by the Singapore Department of Statistics on Tuesday.

The increase was attributed to a larger rise in external assets compared to external liabilities, the department said in a report.

The net IIP measures the difference between a country's external financial assets and liabilities. Singapore has consistently maintained a positive net IIP, with external assets exceeding liabilities, which makes Singapore a net creditor country to the rest of the world, the report said.

As of the end of the third quarter of 2024, Singapore's external assets totaled 7,844 billion Singapore dollars, up from 7,780 billion Singapore dollars in the second quarter. Meanwhile, external liabilities rose from 6,667 billion Singapore dollars at the end of the second quarter to 6,726 billion Singapore dollars by the end of the third quarter. (1 Singapore dollar equals 0.74 U.S. dollar) Enditem

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