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

Singapore recorded a trade surplus of 8500000 Thousand SGD in January of 2015. 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.

      Forecast    
Singapore Balance of Trade


Actual Previous Highest Lowest Dates Unit Frequency
8500000.00 4459100.00 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 Tuesday, March 3, 2015.


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.

Total exports declined 1.6 percent to SGD 42.43 billion, following a 0.7 percent contraction in December as a rise in non-oil domestic exports was not enough to offset a decline in oil exports.

Non-oil domestic exports (NODX) rose by 4.3 percent in January, compared to a 2.3 percent growth in the previous month, due to an expansion in both electronic and non-electronic. Electronic sales increased by 5.0 percent, after a 0.4 percent growth in the preceding month, largely due to higher exports of ICs (+32.0 percent), diodes & transistors (+31.7 percent) and disk media products (+15.8 percent). Non-electronic NODX expanded by 4.0 percent, following a 3.2 percent increase in the preceding month, boosted by pharmaceuticals (+25.9 percent), pumps (+210.1 percent) and non-electronic engines & motors.

Oil exports fell 33.3 percent, following a 22.0 percent contraction a month ago. The year-on-year decline of oil exports was mainly due to lower sales to Hong Kong (-50.2 percent), Indonesia (-43.3 percent) and Panama (-50.6 percent).

Non-oil re-exports (NORX) rose by 12.7 percent in January, compared to a 8.7 percent expansion in the previous month, due to an increase in both electronic and non-electronic NORX. Electronic NORX increased by 23.5 percent following a 10.9 percent rise in the preceding month, due to ICs (+30.9 percent), telecommunications equipment (+33.6 percent) and part of PCs (+16.3 percent). Non-electronic NORX increased by 2.0 percent in January, following a 6.3 percent growth in the previous month, largely due to a rise in nickel (+2,043.1 percent), printed matter (+430.2 percent) and electrical machinery (+49.8 percent).

NODX to top ten markets in January increased on an annual basis except for Japan and Indonesia. The top three contributors in the month were the EU countries, Hong Kong and China. NODX to the EU countries increased, led by pharmaceuticals (+70.2 percent), non-electric engines & motors (+1,923.9 percent). NODX to Hong Kong expanded by 17.4 percent, due to ICs (+94.6 percent), printed matter (+54.0 percent) and PCs (+242.9 percent). Those to China grew by 4.5 percent, due to pumps (+2,595.3 percent), ICs (+26.2 percent) and heating&cooling equipment (+2,272.9 percent).

NORX to top ten markets rose except to the EU countries and Malaysia. The top three contributors in the month were Hong Kong (+40.8 percent), China (+43.8 percent) and Taiwan (+25.8 percent).

Year-on-year, imports decreased 13.4 percent to SGD 33.93 billion in January, following a 1.4 percent fall in the previous month.

In December, Singapore posted a  SGD 4.46 billion trade surplus.

Statistics Singapore l Rida Husna l rida@tradingeconomics.com
2/17/2015 12:43:45 PM


Recent Releases

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. Published on 2015-01-16

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


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


Singapore Trade Last Previous Highest Lowest Unit
Balance of Trade 8500000.00 4459100.00 9600000.00 -1985810.00 Thousand SGD [+]
Exports 42430000.00 41601800.00 48997750.00 197677.00 Thousand SGD [+]
Imports 33930000.00 37142700.00 43135700.00 266381.00 Thousand SGD [+]
Current Account 19151.40 21862.00 22170.30 -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 108.20 105.92 178.53 99.02 Index Points [+]
Tourist Arrivals 1359983.00 1141260.00 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 -436.00 Dec/14 -1016.00 2219.00 -3897.00 AUD Million [+]
Brazil -2842.00 Feb/15 -3173.95 5659.37 -4058.14 USD Million [+]
Canada -650.00 Dec/14 -340.00 8524.80 -2902.90 CAD Million [+]
China 600.30 Jan/15 496.13 544.76 -319.71 USD Hundred Million [+]
Euro Area 24300.00 Dec/14 21200.00 24300.00 -16638.00 EUR Million [+]
France -3446.00 Dec/14 -3093.00 2674.00 -7086.00 EUR Million [+]
Germany 19000.00 Dec/14 17900.00 23400.00 -535.91 EUR Million [+]
India -8320.00 Jan/15 -9430.00 258.90 -20210.90 USD Million [+]
Indonesia 709.40 Jan/15 186.80 4641.92 -2329.13 USD Million [+]
Italy 5756.00 Dec/14 3541.23 6923.00 -6389.30 EUR Million [+]
Japan -1177.50 Jan/15 -660.70 1608.67 -2795.04 JPY Billion [+]
Mexico -3248.00 Jan/15 254.00 1710.25 -3292.30 USD Million [+]
Netherlands 4891.20 Dec/14 5110.00 5110.00 -907.60 EUR Million [+]
Russia 12927.00 Dec/14 13359.00 20356.00 -185.00 USD Million [+]
South Korea 5530.00 Jan/15 5750.00 7380.00 -4043.45 USD Million [+]
Spain -1821800.00 Dec/14 -1555245.00 634935.00 -9834766.00 EUR Thousand [+]
Switzerland 3432.72 Jan/15 1514.42 3901.00 -1478.68 CHF million [+]
Turkey -4305.31 Jan/15 -8505.55 24.51 -10453.06 USD Million [+]
United Kingdom -2895.00 Dec/14 -1841.00 2946.00 -5397.00 GBP Million [+]
United States -46560.00 Dec/14 -39750.00 1946.00 -67823.00 USD Million [+]