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

Singapore recorded a trade surplus of 4459100 Thousand SGD in December of 2014. Balance of Trade in Singapore averaged 505882.84 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. 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
4459100.00 6586700.00 9600000.00 -1985810.00 1964 - 2014 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, February 1, 2015.


Singapore Trade Surplus Widens in December


Singaporean trade surplus increased to SGD 4.46 billion in December of 2014 from SGD 4.22 billion a year earlier as imports declined more than exports. Yet, non-oil exports rose more than expected as both electronic and non-electronic shipments rebounded.

Year-on-year, imports decreased 1.4 percent to SGD 37.14 billion in December, following an 11.1 percent fall in the previous month. Total exports declined 0.7 percent to SGD 41.60 billion, following a 3.1 percent contraction in November.

Non-oil domestic exports (NODX) rose by 2.3 percent in December, compared to a 0.8 percent growth in the previous month, due to an expansion in both electronic and non-electronic. Electronic sales increased by 0.4 percent, after a 10.2 percent decline in the preceding month, largely due to higher exports of ICs (+12.6 percent), telecommunications equipment (+64.5 percent) and PCs (+12.7 percent). Non-electronic sales expanded by 3.2 percent in December, after a  6.2 percent increase in November, led by specialised machinery (+25.9 percent), food preparations (+54.8 percent) and non-electric engines & motors (+278.2 percent). Oil exports fell  22.0 percent, following a 16.6 percent contraction in the preceding month.  The year-on-year decline of oil exports was mainly due to lower sales to Malaysia (-34.2 percent), Hong Kong (-38.9 percent) and China (-39.9 percent). Non-oil re-exports (NORX) rose by 8.7  percent in December, compared to a 3.5 percent expansion in the previous month, due to an increase in both electronic and non-electronic NORX.

NODX to top ten markets in December of 2014 increased on an annual basis except for China, the US, Japan and Indonesia. The top three contributors in the month were South Korea (+34.4 percent from -3.0 percent in November), Malaysia (+9.5 percent from +15.1 percent) and the EU countries (+2.4 percent from -11.8 percent).  NODX to South Korea increased, led by specialised machinery (+352.6 percent), PCs (+445.1 percent) and ICs (+57.0 percent). NODX to Malaysia expanded,  due to petrochemicals (+18.1 percent), primary chemicals (+143.9 percent) and electrical machinery (+128.8 percent). Those to the EU countries grew, mainly due to pharmaceuticals (+14.0 percent), non-electric engines & motors (+1,384.2 percent) and measuring instruments (+47.8 percent).
In November, Singapore posted a revised SGD 6.59 billion trade surplus.

Statistics Singapore l Rida Husna l rida@tradingeconomics.com
1/16/2015 12:57:43 PM


Recent Releases

Singapore Trade Surplus Widens in November
Singaporean trade surplus increased to SGD 6.69 billion in November of 2014 from SGD 3.58 billion a year earlier and from SGD 4.24 billion in the previous month, as imports fell much faster than exports. Published on 2014-12-17

Singapore Trade Surplus Narrows in October
Singaporean trade surplus decreased to SGD 4.24 billion in October of 2014 from SGD 6.69 billion a year earlier and from SGD 5.58 in the previous month, as exports extended to fall much faster than imports. Published on 2014-11-17


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-11-17 06:00 AM
Balance of Trade  Oct
SGD 4240M SGD 5580M SGD 5261.4M
2014-12-17 06:00 AM
Balance of Trade  Nov
SGD 6690M SGD 4240M SGD 4990M SGD 5452.1M
2015-01-16 02:30 AM
Balance of Trade  Dec
SGD 4460M SGD 6590M (R) SGD 5900M SGD 5750.7M
2015-02-17 06:00 AM
Balance of Trade  Jan
SGD 4460M SGD 5499.3M
2015-03-17 06:00 AM
Balance of Trade  Feb
SGD 5593.1M
2015-04-17 06:00 AM
Balance of Trade  Mar
SGD 5731.1M


Singapore Trade Last Previous Highest Lowest Unit
Balance of Trade 4459100.00 6586700.00 9600000.00 -1985810.00 Thousand SGD [+]
Exports 41601800.00 40837300.00 48997750.00 197677.00 Thousand SGD [+]
Imports 37142700.00 34250600.00 43135700.00 266381.00 Thousand SGD [+]
Current Account 22170.30 18011.80 22170.30 -662.70 SGD Million [+]
Current Account to GDP 18.00 17.00 27.30 -13.10 percent [+]
External Debt 0.00 0.00 130.60 0.00 SGD Million [+]
Terms of Trade 106.00 104.26 167.24 93.05 Index Points [+]
Tourist Arrivals 1141260.00 1200793.00 1467000.00 147954.00 [+]
Gold Reserves 127.40 127.40 127.40 0.00 Tonnes [+]


Balance of Trade Reference Previous Highest Lowest Unit
Australia -925.00 Nov/14 -877.00 2219.00 -3897.00 AUD Million [+]
Brazil 293.00 Dec/14 -2350.52 5659.37 -4058.14 USD Million [+]
Canada -644.30 Nov/14 -327.00 8524.80 -2902.90 CAD Million [+]
China 496.13 Dec/14 544.76 544.76 -319.71 USD Hundred Million [+]
Euro Area 19954.00 Nov/14 23646.00 23646.00 -16638.00 EUR Million [+]
France -3236.00 Nov/14 -4270.00 2674.00 -7086.00 EUR Million [+]
Germany 17883.46 Nov/14 22100.00 23400.00 -535.91 EUR Million [+]
India -9430.00 Dec/14 -16861.10 258.90 -20210.90 USD Million [+]
Indonesia -425.70 Nov/14 20.00 4641.92 -2329.13 USD Million [+]
Italy 3541.23 Nov/14 5396.00 6923.00 -6389.30 EUR Million [+]
Japan -660.70 Dec/14 -893.52 1608.67 -2795.04 JPY Billion [+]
Mexico 254.00 Dec/14 -1076.36 1710.25 -3292.30 USD Million [+]
Netherlands 5110.00 Nov/14 4849.00 5110.00 -907.60 EUR Million [+]
Russia 13359.00 Nov/14 14222.00 20356.00 -185.00 USD Million [+]
South Korea 5530.00 Jan/15 5510.00 7380.00 -4043.45 USD Million [+]
Spain -1555245.00 Nov/14 -2240060.00 634935.00 -9834766.00 EUR Thousand [+]
Switzerland 3868.33 Nov/14 3226.00 3901.00 -1478.68 CHF million [+]
Turkey -8505.55 Dec/14 -8306.48 24.51 -10453.06 USD Million [+]
United Kingdom -1406.00 Nov/14 -2246.00 2946.00 -5397.00 GBP Million [+]
United States -39001.00 Nov/14 -42249.00 1946.00 -67823.00 USD Million [+]