Singapore Balance of Trade

Singapore recorded a trade surplus of 2263800 Thousand SGD in March of 2014. Balance of Trade in Singapore is reported by the Statistics Singapore. Balance of Trade in Singapore averaged 438804.51 Thousand SGD from 1964 until 2014, reaching an all time high of 9600000 Thousand SGD in November of 2003 and a record low of -1985810 Thousand SGD in October of 1993. Singapore economy relies on purchasing of intermediate goods and exporting of high-value added products. Main exports are: electronic goods (31 percent of total exports), fuel (26 percent) and chemicals (12 percent). Main imports are: fuel (33 percent of total imports), electronic components (25 percent), machinery (16 percent), chemicals (6 percent) and manufactured goods (5 percent). Main trading partners are China (12 percent of total exports and 11 percent imports) and Malaysia (12 percent exports and 11 percent imports). Others include: United States, Indonesia and Japan. This page provides - Singapore Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-20

Actual Previous Highest Lowest Forecast Dates Unit Frequency
2263800.00 4289300.00 9600000.00 -1985810.00 3742489.16 | 2014/04 1964 - 2014 Thousand SGD Monthly

TO

Singapore Balance of Trade
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2014-01-17 12:30 AM Singapore
Balance of Trade
Dec 2013 SGD 4228.9M SGD 3589.8M (R) SGD 5296M
2014-02-17 12:30 AM Singapore
Balance of Trade
Jan 2014 SGD 3968.1M SGD 4228.9M SGD 3849.8M
2014-03-17 05:00 AM Singapore
Balance of Trade
Feb 2014 SGD 4289.3M SGD 3968.1M SGD 4491.3M
2014-04-17 06:00 AM Singapore
Balance of Trade
Mar 2014 SGD 2263.8M SGD 4289.3M SGD 3773.7M
2014-05-17 06:00 AM Singapore
Balance of Trade
Apr 2014 SGD 2263.8M SGD 3742.5M
2014-06-17 06:00 AM Singapore
Balance of Trade
May 2014 SGD 3747.3M
[+]

Trade Last Previous Highest Lowest Forecast Unit
Exports 44803600.00 2014-03-31 40338900.00 48997750.00 197677.00 44130197.52 2014-04-30 Thousand SGD [+]
Current Account to GDP 18.60 2012-12-31 24.60 27.30 -13.10 15.60 2013-12-31 Percent [+]
Current Account 17361.40 2013-11-15 18322.00 22771.90 -662.70 19071.54 2014-03-31 SGD Million [+]
Imports 42539800.00 2014-03-31 36094200.00 43135700.00 266381.00 40147919.13 2014-04-30 Thousand SGD [+]
External Debt 0.00 2013-12-31 0.00 130.60 0.00 -0.32 2014-03-31 SGD Million [+]
Terms of Trade 99.19 2014-02-15 99.35 167.24 93.05 99.24 2014-03-31 Index Points [+]
Tourist Arrivals 1345000.00 2013-12-15 1158000.00 1467000.00 147954.00 1250840.72 2014-01-31 [+]
Balance of Trade 2263800.00 2014-03-31 4289300.00 9600000.00 -1985810.00 3742489.16 2014-04-30 Thousand SGD [+]
[+]


Singaporean Trade Surplus Narrows Sharply in March

The trade surplus decreased 51.1 percent in March of 2014 over a year earlier and 47.2 percent from February to SGD 2.3 billion. Imports rose at a faster pace than exports, as sales of pharmaceuticals and electronics fell, while shipments of petrochemicals and re-exports contributed to overall increase.

In March, total exports amounted to SGD 44.8 billion, increasing 7.9 percent compared with the same month of 2013. In the previous month, shipments expanded 11.1 percent.

On a y-o-y basis, non-oil domestic exports declined by 6.6 percent, compared to the 8.9 percent increase in February. Sales to the top ten markets, except China and Malaysia decreased, with the EU, Hong Kong and South Korea accounting for the highest contraction.  

Shipments of electronic goods fell due to lower sales of ICs (-18.9 percent), parts of PCs (-38.6 percent) and disk drives (-24.1 percent). Also, non-electronic exports declined for pharmaceuticals (-44.6 percent), aromatic chemicals (-43.9 percent) and specialized machinery (-11.3 percent). 

In contrast, oil exports expanded 6.9 percent in March of 2014, following February’s 13.4 percent increase, due to higher sales to China (+74.2 percent), Indonesia (+38.9 percent) and Vietnam (+109.5 percent).

Non-oil re-exports rose by 18.7 percent yoy, after the 15.5 percent expansion in the previous month, due to an increase in both electronic and non-electronic sales.

Imports rose by 15.3 percent to SGD 42.5 billion, following the 6.6 percent rise in the preceding month.

International Enterprise Singapore | Isabel Felino | isabel.felino@tradingeconomics.com
4/17/2014 10:23:46 AM

RECENT RELEASES

Singapore Trade Surplus Increases in February
Singapore’s trade surplus widened 8 percent over the previous month and 74.4 percent over a year earlier, boosted by higher exports of petrochemicals and pharmaceuticals. Published on 2014-03-17

Singapore’s Trade Surplus Widens in January Over a Year Earlier
In the first month of 2014, Singapore’s trade surplus narrowed 6.2 percent over December to SGD 3.97 billion. However, compared with the same month last year, it widened 114.7 percent, as exports rose 2.9 percent while imports contracted 0.9 percent. Published on 2014-02-17


Balance of Trade | Notes
The balance of trade is the difference between the monetary value of exports and imports in an economy over a certain period of time. A positive balance of trade is known as a trade surplus and occurs when value of exports is higher than that of imports; a negative balance of trade is known as a trade deficit or a trade gap.


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