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

Singapore recorded a trade surplus of 6727.16 Million SGD in July of 2015. Balance of Trade in Singapore averaged 627.86 Million SGD from 1964 until 2015, reaching an all time high of 8612.24 Million SGD in March of 2015 and a record low of -1985.81 Million SGD in October of 1993. Balance of Trade in Singapore is reported by the Statistics Singapore.

Singapore Balance of Trade
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Actual Previous Highest Lowest Dates Unit Frequency
6727.16 4840.27 8612.24 -1985.81 1964 - 2015 Million SGD Monthly
SA
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 the latest reported value for - Singapore Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Content for - Singapore Balance of Trade - was last refreshed on Tuesday, September 1, 2015.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-06-17 06:00 AM May S$6608M S$5874M(R) 7262M
2015-07-16 02:30 AM Jun S$4930M S$6570M(R) 7276.4M
2015-08-17 01:30 AM Jul S$5960M S$5880M(R) 6170.6M


Singapore Trade Surplus Widens in July


Singaporean trade surplus increased to SGD5.96 billion in July of 2015 from a SGD4.08 billion a year earlier, as imports fell more than exports. Yet, non-oil domestic exports slightly fell as exports of electronic slowed and sales of non-electronic shrank.

Year-on-year, total exports decreased by 4.0 percent to SGD41.92 billion, following a 6.2 percent contraction in the previous month.

Non-oil Domestic Exports (NODX) declined by 0.8 percent in July 2015, compared to 1 4.5 percent increase in the previous month, due to a contraction in non-electronic NODX which outweighed a growth in electronic NODX. Electronic NODX grew by 2.3 percent, following a 7.6 percent increase in the previous month, largely due to PCs (+74.3 percent), telecommunications equipment (+86-6 percent) and diodes & transistors (+21.7 percent).
ICs (+10.8 percent). Non-electronic NODX decreased by 2.1 percent in July, following a 3.3 percent increase in the preceding month, mainly due to structures of ships & boats (-98.3 percent, printed matter (-51.8 percent) and primary chemicals (-22.1 percent).

NODX to all of the top ten NODX markets decreased, except to Hong Kong, South Korea and Thailand. The top three contributors to the decline were Japan (-10.2 percent), Taiwan (-3.5 percent) and China (-1.6 percent). Meanwhile NODX to emerging markets contracted by 2.1 percent, following a 6.6 percent decline in the previous month, mainly to the Carribean (-89.5 percent), Latin America (-7.9 percent) and South Asia (-0.9 percent).

Oil exports decreased by 20.6 percent, following the preceding month’s 25.3 percent contraction, mainly due to lower sales to Malaysia (-22.1 percent), the EU (-44.6 percent) and Australia (-41.8 percent). In volume terms, oil domestic exports increased by 22.2 percent, compared to a 10.6 percent expansion in the preceding month.

Non-oil re-exports (NORX) increased by 5.0 percent, after a 1.0 percent growth in the previous month, due to an expansion in both electronic and non-electronic NORX. 

NORX to all of the top ten NORX markets increased in July except the EU and Indonesia. The top three contributors to the NORX rise were Taiwan (+29.8 percent), the US (+14.6 percent) and Hong Kong (+4.9 percent).

Imports decreased by 9.2 percent to SGD35.96 billion in July, following a 4.5 percent rise in the preceding month.

In June, Singapore posted a revised SGD5.88 billion surplus.

Statistics Singapore l Rida Husna l rida@tradingeconomics.com
8/17/2015 4:43:44 AM


Recent Releases

Singapore Trade Surplus Narrows in June
Singaporean trade surplus decreased to SGD4.93 billion in June of 2015 from a SGD5.88 billion a year earlier, as exports fell more than imports. Yet, non-oil exports rebounded as both electronic and non-electronic shipments expanded.
Published on 2015-07-16

Singapore Trade Surplus Widens in May
Singaporean trade surplus increased to SGD 6.61 billion in May of 2015 from a SGD 3.01 billion a year earlier, as exports were down 10 percent and imports declined at a faster 19.6 percent.
Published on 2015-06-17

Singapore Trade Surplus Widens in April
Singaporean trade surplus increased to SGD 5.91 billion in April of 2015 from SGD 4.22 billion a year earlier, as imports fell more than exports. Non-oil exports slowed as electronic shipments decreased while those of non-electronic shipments expanded.
Published on 2015-05-18

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.
Published on 2015-04-17


Singapore Trade Last Previous Highest Lowest Unit
Balance of Trade 6727.16 4840.27 8612.24 -1985.81 Million SGD [+]
Exports 41609.69 39782.42 45075.52 197.68 Million SGD [+]
Imports 34882.53 34942.16 43577.46 266.38 Million SGD [+]
Current Account 23103.20 26862.80 26862.80 -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 106.61 104.91 178.53 99.02 Index Points [+]
Tourist Arrivals 1184229.00 1221564.00 1467000.00 147954.00 [+]
Gold Reserves 127.40 127.40 127.40 0.00 Tonnes [+]
Capital Flows -18996.70 -29782.60 5774.70 -29782.60 SGD Million [+]
Foreign Direct Investment 22894.90 24489.00 24489.00 -4441.60 SGD Million [+]


Balance of Trade Reference Previous Highest Lowest Unit
Australia -2933.00 Jun/15 -2677.00 2254.00 -4156.00 AUD Million [+]
Brazil 2379.00 Jul/15 4527.00 5659.37 -4058.14 USD Million [+]
Canada -476.00 Jun/15 -2992.00 8524.80 -3853.00 CAD Million [+]
China 430.25 Jul/15 465.36 606.19 -319.71 USD Hundred Million [+]
Euro Area 26368.70 Jun/15 18800.00 26368.70 -16748.10 EUR Million [+]
France -2658.00 Jun/15 -3999.00 2674.00 -7086.00 EUR Million [+]
Germany 24038.00 Jun/15 19522.00 24038.00 -535.91 EUR Million [+]
India -12812.46 Jul/15 -10830.00 258.90 -20210.90 USD Million [+]
Indonesia 1330.00 Jul/15 528.00 4641.92 -2329.13 USD Million [+]
Italy 2808.95 Jun/15 4140.00 6923.00 -6389.30 EUR Million [+]
Japan -268.06 Jul/15 -69.00 1608.67 -2795.04 JPY Billion [+]
Mexico -2267.00 Jul/15 -749.00 1710.25 -3292.30 USD Million [+]
Netherlands 4760.00 Jun/15 3280.00 6211.40 -907.60 EUR Million [+]
Russia 11228.00 Jul/15 13775.00 20356.00 -185.00 USD Million [+]
South Korea 4350.00 Aug/15 7723.00 9980.00 -4043.45 USD Million [+]
Spain -2046007.00 Jun/15 -1657308.00 634935.00 -9834766.00 EUR Thousand [+]
Switzerland 3741.00 Jul/15 3509.00 3894.91 -1478.68 CHF million [+]
Turkey -7027.59 Jul/15 -6205.89 24.51 -10453.06 USD Million [+]
United Kingdom -1601.00 Jun/15 -885.00 2946.00 -5397.00 GBP Million [+]
United States -43840.00 Jun/15 -40940.00 1946.00 -67823.00 USD Million [+]