Makrognosis

Singapore Credit Rating & Sovereign Risk Score

Model scoreCode CREDIT:SG

Model score82 / 1009 Nov 2026
Grade equivalentA+model-implied
BandInvestment grade0–100 scale, 100 = strongest
Rank21st of 84economies scored

Makrognosis sovereign credit model scores Singapore at 82 out of 100 as of 9 November 2026, equivalent to A+ on the familiar letter scale — investment grade.

The score is down 0.10 points from 82 on 1 October 2026.

That places Singapore 21st of the 84 economies the model scores; Russia has the highest score at 100.

Key inputs include government debt of 166.1% of GDP, a fiscal balance of 3.0% of GDP, a current account balance of 18.6% of GDP.

This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.

Singapore sovereign credit score (0–100), 18 Jun 2026 – 9 Nov 202680.082.585.087.590.092.5Robomacro
Singapore sovereign credit score (0–100), 18 Jun 2026 – 9 Nov 2026. Source: Makrognosis sovereign credit model.

Score history

Assessment dateScoreGrade equivalent
9 November 202681.5A+
1 October 202681.6A+
31 July 202681.6A+
30 July 202691.6AA
26 July 202689.8AA
21 June 202686.7AA-
18 June 202690.6AA
Get the Singapore sovereign risk score in your code

Score, grade equivalent and inputs for 84 economies. Free tier available.

curl -H "X-API-Key: $MAKROGNOSIS_KEY" \
  "https://makrognosis.robomacro.com/v1/credit/SG"

# Python
import requests
r = requests.get("https://makrognosis.robomacro.com/v1/credit/SG",
                 headers={"X-API-Key": KEY})
score = r.json()["headline"]["score_0_100"]
Get a free API key → · API docs

What drives the score

The model's published inputs for Singapore, from official national and international statistics.

InputValueVintage
GDP per capitaUS$98,8142026
Real GDP growth, 5-year average5.2%2026
Inflation, recent average1.7%2026
Government debt166.1% of GDP2026
Fiscal balance3.0% of GDP2026
Current account balance18.6% of GDP2026
Foreign-exchange reserves6.3 months of imports2026
Governance (World Bank WGI composite)1.512026

How Singapore compares

#EconomyAs ofScore
1Russia9 Nov 2026100
2Turkey9 Nov 2026100
3Denmark9 Nov 202698
4Switzerland9 Nov 202696
5Netherlands9 Nov 202695
16New Zealand9 Nov 202685
17South Korea9 Nov 202685
18India9 Nov 202684
19Austria9 Nov 202683
20France9 Nov 202682
21Singapore9 Nov 202682
22Jamaica9 Nov 202680
23Belgium9 Nov 202680
24Hong Kong9 Nov 202678
25Spain9 Nov 202678
26Estonia9 Nov 202676
27Italy9 Nov 202676

All 84 economies ranked →

Singapore economic indicators

Singapore GDP (Gross Domestic Product)Singapore GDP At Current Prices Total, Quarterly (SingStat M015651)Singapore Nominal GDP at current market prices (SingStat/DOS, SGD million, annual)Singapore Inflation Rate (CPI)Singapore Core Inflation RateSingapore Unemployment RateSingapore Unemployment rate, end of period (MOM via SingStat, quarterly)Singapore 10-Year Government Bond YieldSingapore Loans and advances of banks (SingStat M701091 series 1)Singapore Industrial ProductionSingapore Retail SalesSingapore Producer Price Inflation (PPI)Singapore Current account balance, SGD million (SingStat, quarterly)Singapore Trade Balance: Goods & ServicesSingapore Total Merchandise Exports (At Current Prices), MonthlySingapore Total Merchandise Imports (At Current Prices), Monthly

FAQ

What is Singapore's credit rating?
Makrognosis sovereign credit model scores Singapore at 82/100 as of 9 November 2026, equivalent to A+ (investment grade). This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.
How is the sovereign risk score calculated?
A statistical model scores each economy from published inputs — government debt and fiscal balance, current account and external debt, GDP per capita and growth, inflation, reserves and governance — on a 0–100 scale where 100 is the strongest credit. It is re-run as the inputs update.
Where can I get the data?
Through the Makrognosis API: GET /v1/credit/SG returns the score history and inputs; /v1/credit/universe lists every economy.

This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.

Last assessed 2026-11-09. Source: Makrognosis sovereign credit model.