Singapore Balance of Trade

Singapore recorded a trade surplus of 5887900 Thousand SGD in June of 2014. Balance of Trade in Singapore averaged 458313.08 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.


Singapore Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
5887900.00 3013600.00 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: 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.

Singapore Trade Surplus Widens in June

Singaporean trade surplus increased to SGD 5.89 billion in June of 2014 from SGD 4.57 billion a year earlier. Total exports rose 3.9 percent on the year boosted by oil sales, while non-oil exports contracted 4.6 percent, as a drop in electronics outweighed a rise in non-electronic.

Total exports rose 3.9 percent year-on-year to SGD 43.52 billion. Non-oil domestic exports contracted 4.6 percent in June, following a 6.6 percent decrease in the previous month. Electronic sales fell 17.4 percent in June, after a 15.3 percent increase in May, largely due to lower exports of ICs (-17.3 percent), PCs (-32.2 percent) and parts of PCs (-18.5 percent). Non-electronic sales expanded 1.3 percent, rebounding from a 2.4 percent fall in the previous period, driven by sales of pharmaceuticals (24.3 percent), petrochemicals (29 percent) and printed matter (32.6 percent). In contrast, oil exports expanded 9.3 percent and re-exports rose 7.5 percent. 

Non-oil sales to top 10 markets dropped on an annual basis except for Malaysia, Indonesia, China and Taiwan. The top three contributors were Hong Kong, South Korea and the European Union. 

Imports rose marginally by 0.89 percent year-on-year to SGD 37.63 billion. 

International Enterprise Singapore | Joana Taborda |
7/17/2014 10:16:12 AM

Recent Releases

Singapore Trade Surplus Narrows on Falling Exports
Singaporean trade surplus decreased sharply to SGD 3 billion in May of 2014 from SGD 4.2 billion in the previous month and SGD 4.4 billion a year earlier, hurt by lower sales of electronics and pharmaceuticals. Published on 2014-06-17

Singapore Trade Surplus Widens 86% in April
Singaporean trade surplus increased to SGD 4.22 billion in April of 2014 from SGD 2.63 billion in the previous month and SGD 4.1 billion a year earlier. Non electronic exports recovered from last month’s contraction, boosted by sales to China and the United States. Published on 2014-05-16

Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2014-04-17 06:00 AM Singapore
Balance of Trade
Mar 2014 SGD 2263.8M SGD 4289.3M SGD 3773.7M
2014-05-16 06:00 AM Singapore
Balance of Trade
Apr 2014 SGD 4217.6M SGD 2263.8M SGD 3742.5M
2014-06-17 06:00 AM Singapore
Balance of Trade
May 2014 SGD 3011.2M SGD 4217.6M SGD 3777.4M
2014-07-17 06:00 AM Singapore
Balance of Trade
Jun 2014 SGD 5890.0 M SGD 3013.6M SGD 3262.3M
2014-08-18 06:00 AM Singapore
Balance of Trade
Jul 2014 SGD 5890.0 M SGD 3948M

Trade Last Previous Highest Lowest Unit
Balance of Trade 5887900.00 3013600.00 9600000.00 -1985810.00 Thousand SGD [+]
Exports 43517700.00 43611900.00 48997750.00 197677.00 Thousand SGD [+]
Imports 37629800.00 40598600.00 43135700.00 266381.00 Thousand SGD [+]
Current Account 16300.70 16843.10 22771.90 -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 99.05 99.55 167.24 93.05 Index Points [+]
Tourist Arrivals 1207825.00 1244597.00 1467000.00 147954.00 [+]
Gold Reserves 127.40 127.40 127.40 0.00 Tonnes [+]

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