SINGAPORE, March 28 (Xinhua) -- Singapore's net asset position in the international investment position (IIP) rose by 2.5 percent quarter-on-quarter, according to the latest data released by the Singapore Department of Statistics on Friday.

The net IIP grew from 1,067 billion Singapore dollars (about 800 billion U.S. dollars) to 1,094 billion Singapore dollars by the end of the fourth quarter of 2024, the department said in its report.

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

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, positioning the country as a net creditor to the rest of the world, the report noted.

As of the end of the fourth quarter of 2024, Singapore's external assets totaled 8,041 billion Singapore dollars, up from 7,781 billion Singapore dollars in the third quarter.

Meanwhile, external liabilities rose from 6,714 billion Singapore dollars at the end of the third quarter to 6,947 billion Singapore dollars by the end of the fourth quarter. (1 Singapore dollar equals 0.75 U.S. dollars) Enditem

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