Singapore Balance of Trade 1964-2015 | Data | Chart | Calendar | Forecast

Singapore recorded a trade surplus of 8635100 Thousand SGD in March of 2015. Balance of Trade in Singapore averaged 539636.83 Thousand SGD from 1964 until 2015, 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. Balance of Trade in Singapore is reported by the Statistics Singapore.

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Singapore Balance of Trade


Actual Previous Highest Lowest Dates Unit Frequency
8635100.00 5179800.00 9600000.00 -1985810.00 1964 - 2015 Thousand SGD Monthly
Singapore economy relies on purchasing of intermediate goods and exporting of high-value added products. Main exports are: machinery and equipment (46 percent of the total exports), fuel (26 percent), and chemicals (13 percent). Main imports are: machinery and equipment (43 percent of the total exports), fuel (32 percent), miscellaneous manufactures (7 percent) and chemical products (7 percent). In recent years, the biggest trade deficits were recorded with China, Malaysia, the United States, Taiwan, Indonesia and the United Kingdom. Singapore records trade surpluses with Bahrain, Myanmar, Hong Kong, Brazil and India. This page provides - Singapore Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Singapore Balance of Trade - was last refreshed on Sunday, April 26, 2015.


Singapore Trade Surplus Increases in March


Singaporean trade surplus significantly widened to SGD 8.63 billion in March of 2015 from SGD 2.27 billion a year earlier, as imports fell at a slower pace while exports unexpectedly increased. Non-oil exports rebounded as both electronic and non-electronic shipments expanded.

Year on year, total exports grew by 0.7 percent to SGD 44.90 billion, following a 16.1 percent contraction in February.

Non-oil domestic exports (NODX) rose by 18.5 percent in March, as compared to a 9.7 percent decline in the previous month, due to an expansion in both electronic and non-electronic NODX. Electronic sales grew by 10.4 percent, after a 12.5 percent decline in the preceding month, largely due to parts of ICs (+24.4 percent), PCs (+123.0 percent) and diodes & transdistors (+16.1 percent). Non-electronic NODX expanded by 21.6 percent, reversing from a 8.5 percent decline in the previous month, largely due to a rise in pharmaceuticals (+65.9 percent), structures of ships & boats (+337.6 percent) and non-electric engines & motors (+433.7 percent).

Oil exports fell 22.4 percent, following a 46.7 percent contraction a month ago. The year-on-year decline of oil exports was mainly due to lower sales to China (-48.0 percent), Panama  (-44.7 percent) and Australia (-55.2 percent).

Non-oil re-exports (NORX) rose by 1.7 percent in March, following a 0.9 percent expansion in the previous month, due to an increase in electronic NORX, which outweighed a decrease in non-electronic NORX. Electronic NORXdecreased by 0.9 percent following a 4.6 percent rise in the preceding month, due to ICs (-7.7 percent) and consumer electronics (-9.1 percent). Non-electronic NORX grew by 4.4 percent in March, reversing from a 3.0 percent decline in the previous month, largely due to an expansion in electrical machinery (+40.2 percent), pharmaceuticals (+34.1 percent) and nickel (+327.1 percent).

NODX to top ten markets in March increased on an annual basis except for Indonesia and Japan. The top three contributors to the growth were the EU countries, the US and Malaysia. NODX to the EU countries expanded by 56.2 percent, in contrast to a 2.8 percent decline in the previous month, led by pharmaceuticals (+106.5 percent), PCs (+64.2 percent) and petrochemicals (+172.4 percent). NODX to the US rose by 19.0 percent, following a  7.5 percent increase in February, due to non-electronic engines & motors (+661.6 percent), pharmaceuticals (+62.9 percent) and specialised machinery (+71.9 percent). Those to Malaysia grew by 10.7 percent, following a 1.4 percent growth in the preceding month, due to PCs (+393.8 percent), diodes & transistors (+283.2 percent) and civil engineering equipment parts (+55.5 percent). NODX to emerging markets increased by 69.0 percent in March, in contrast to a 17.5 percent decline in the previous month, mainly due to Caribbean (+6.171.6 percent), the Middle East (+102.6 percent) and CLMV (+86.8 per cent).

NORX to top ten markets rose except to South Korea, Japan, Indonesia and Taiwan. The top three contributors in March were China (+12.5 percent), the US (+16.2 percent) and the EU countries (+11.1 percent).

Imports decreased by 14.7 percent to SGD 36.27 billion in March, following a 20.5 percent fall in the previous month.

In February, Singapore posted a  SGD 5.18 billion surplus.

Singstat l Rida Husna l rida@tradingeconomics.com
4/17/2015 4:26:08 AM


Recent Releases

Singapore Trade Surplus Widens in February
Singaporean trade surplus increased to SGD 5.18 billion in February of 2015 from SGD 4.28 billion a year earlier, as exports fell at a slower pace than imports. Yet, non-oil exports declined more than expected as both electronic and non-electronic shipments contracted. Published on 2015-03-17

Singapore Trade Surplus Largest Since December 2011
Singaporean trade surplus increased to SGD 8.50 billion in January of 2015 from SGD 3.96 billion a year earlier as imports declined more than exports. Published on 2015-02-17


Calendar GMT Event Actual Previous Consensus Forecast (i)
2015-02-17 02:30 AM
Balance of Trade  Jan
SGD 8500M SGD 4460M SGD 5499.3M
2015-03-17 02:13 AM
Balance of Trade  Feb
SGD 5180M SGD 8500M SGD 5593.1M
2015-04-17 03:00 AM
Balance of Trade  Mar
SGD 8630M SGD 5180M SGD 5600M SGD 5731.1M
2015-05-18 06:00 AM
Balance of Trade  Apr
SGD 8630M SGD 5755.5M
2015-06-17 06:00 AM
Balance of Trade  May
SGD 5842.4M
2015-07-17 06:00 AM
Balance of Trade  Jun
SGD 5887M


Singapore Trade Last Previous Highest Lowest Unit
Balance of Trade 8635100.00 5179800.00 9600000.00 -1985810.00 Thousand SGD [+]
Exports 44905300.00 33862500.00 48997750.00 197677.00 Thousand SGD [+]
Imports 36270200.00 28682700.00 43135700.00 266381.00 Thousand SGD [+]
Current Account 19151.40 21862.00 22141.80 -662.70 SGD Million [+]
Current Account to GDP 19.00 18.00 27.30 -13.10 percent [+]
External Debt 0.00 0.00 130.60 0.00 SGD Million [+]
Terms of Trade 106.40 108.17 178.53 99.02 Index Points [+]
Tourist Arrivals 1188415.00 1252518.00 1467000.00 147954.00 [+]
Gold Reserves 127.40 127.40 127.40 0.00 Tonnes [+]
Capital Flows -17525.00 -19289.30 5774.70 -19289.30 SGD Million [+]


Balance of Trade Reference Previous Highest Lowest Unit
Australia -1256.00 Feb/15 -1003.00 2251.00 -3884.00 AUD Million [+]
Brazil 458.00 Mar/15 -2841.76 5659.37 -4058.14 USD Million [+]
Canada -984.00 Feb/15 -1475.00 8524.80 -2902.90 CAD Million [+]
China 30.81 Mar/15 606.19 606.19 -319.71 USD Hundred Million [+]
Euro Area 20300.00 Feb/15 7600.00 24009.80 -16638.00 EUR Million [+]
France -3449.00 Feb/15 -3710.00 2674.00 -7086.00 EUR Million [+]
Germany 19515.32 Feb/15 15900.00 23500.00 -535.91 EUR Million [+]
India -11790.00 Mar/15 -6847.00 258.90 -20210.90 USD Million [+]
Indonesia 1131.60 Mar/15 662.70 4641.92 -2329.13 USD Million [+]
Italy 3537.91 Feb/15 232.00 6923.00 -6389.30 EUR Million [+]
Japan 229.26 Mar/15 -425.00 1608.67 -2795.04 JPY Billion [+]
Mexico 558.30 Feb/15 -3248.00 1710.25 -3292.30 USD Million [+]
Netherlands 6009.00 Feb/15 4657.10 6009.00 -907.60 EUR Million [+]
Russia 13600.00 Mar/15 13597.00 20356.00 -185.00 USD Million [+]
South Korea 8380.51 Mar/15 7706.30 8380.51 -4043.45 USD Million [+]
Spain -2037200.00 Feb/15 -2596200.00 634935.00 -9834766.00 EUR Thousand [+]
Switzerland 2525.00 Mar/15 2316.16 3894.91 -1478.68 CHF million [+]
Turkey -4655.64 Feb/15 -4320.27 24.51 -10453.06 USD Million [+]
United Kingdom -2859.00 Feb/15 -1536.00 2946.00 -5397.00 GBP Million [+]
United States -35444.00 Feb/15 -42676.00 1946.00 -67823.00 USD Million [+]