Singapore Balance of Trade 1964-2014 | Data | Chart | Calendar | Forecast

Singapore recorded a trade surplus of 6696200 Thousand SGD in November of 2014. Balance of Trade in Singapore averaged 499463.14 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
6696200.00 4240000.00 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 Friday, December 19, 2014.


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.

Year-on-year, total exports in November declined 2.8 percent to SGD 40.96 billion, following a 7.0 percent contraction in the previous month.

Non-oil domestic exports (NODX) rose 1.6 percent, reversing from a 1.5 percent fall in October, due to an expansion in non- electronic NODX which outweighed the decline in electronic NODX. Electronic sales fell 10.2 percent, following a 3.6 percent decline in the preceding month, largely due to lower exports of ICs (-72.6 percent), parts of PCs (-39.1 percent) and ICs (-4.5 percent). Oil exports decreased by 16.6 percent in November, after a 14.9 percent decline in the preceding month. 

Non-oil re-exports (NORX) increased by 3.6 percent in November, in contrast to a 5.4 percent fall in October, due to a rise in both electronic and non-electronic NORX. Electronic NORX increased by 5.7 percent in November, following a 7.2 percent decline in the previous month, due to ICs (+8.4 percent), telecommunication equipment (+27.5 percent) and diodes & transistors (+19.3 percent). Non-electronic NORX expanded by 1.4 percent in November, in contrast to a 3.3 percent decline in October, due to structures of ships & boats (+3,846.9 percent), precious stones & pearls (+120.9 percent) and jewelry (+33.8 percent).

NODX to top ten markets in November rose on an annual basis except for the EU countries, the US, China, Japan, Hong Kong, Taiwan and South Korea. The top three contributors in the month were Malaysia, Indonesia and Thailand. NODX to Malaysia increased by 15.1 percent, following a 0.4 percent decrease in October, led by petrochemicals (+62.1 percent), diodes & transistors (+137.4 percent) and civil engineering equipment parts (+63.6 percent). NODX to Indonesia expanded by 15.3 percent, in contrast with a 8.8 percent decline in the preceding month, due to medical apparatus (+2,465.1 percent), printed matter (+3,294.9 percent) and other specialty chemicals (+31.0 percent). NODX to Thailand grew by 4.3 percent, following a 13.5 percent rise in the preceding month, due to disk media products (+386.2 percent), ICs (+45.2 percent) and civil engineering equipment parts (+49.5 percent).

Imports decreased 11.1 percent year-on-year to SGD 34.27 billion, following a 5.3 percent decline in October 2014.

Statistics Singapore l Rida l rida@tradingeconomics.com
12/17/2014 6:33:19 AM


Recent Releases

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

Singapore Trade Surplus Widens in September
Singaporean trade surplus increased to SGD 5.58 billion in September of 2014 from SGD 4.53 billion a year earlier, but lower than SGD 6.79 billion in the previous month, as imports extended to fall much faster than exports. Published on 2014-10-17


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-10-17 06:00 AM
Balance of Trade  Sep
SGD 5580M SGD 6797M SGD 5500M SGD 5499.9M
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 06:00 AM
Balance of Trade  Dec
SGD 6696M
2015-02-17 06:00 AM
Balance of Trade  Jan
2015-03-17 06:00 AM
Balance of Trade  Feb


Singapore Trade Last Previous Highest Lowest Unit
Balance of Trade 6696200.00 4240000.00 9600000.00 -1985810.00 Thousand SGD [+]
Exports 40963300.00 44299400.00 48997750.00 197677.00 Thousand SGD [+]
Imports 34267100.00 40060300.00 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 101.80 100.74 167.24 93.05 Index Points [+]
Tourist Arrivals 1360674.00 1407078.00 1467000.00 147954.00 [+]
Gold Reserves 127.40 127.40 127.40 0.00 Tonnes [+]


Balance of Trade Reference Previous Highest Lowest Unit
Australia -1323.00 Oct/14 -2235.00 2226.00 -3892.00 AUD Million [+]
Brazil -2350.52 Nov/14 -1177.00 5659.37 -4058.14 USD Million [+]
Canada 100.00 Oct/14 310.00 8524.80 -2902.90 CAD Million [+]
China 544.74 Nov/14 454.05 544.74 -319.71 USD Hundred Million [+]
Euro Area 24000.00 Oct/14 18100.00 24000.00 -16638.00 EUR Million [+]
France -4608.00 Oct/14 -4715.00 2674.00 -7086.00 EUR Million [+]
Germany 21900.00 Oct/14 22100.00 23400.00 -535.91 EUR Million [+]
India -16860.00 Nov/14 -13350.00 258.90 -20210.90 USD Million [+]
Indonesia 20.00 Oct/14 -270.30 4641.92 -2329.13 USD Million [+]
Italy 5397.00 Oct/14 2020.00 6923.00 -6389.30 EUR Million [+]
Japan -891.85 Nov/14 -709.99 1608.67 -2795.04 JPY Billion [+]
Mexico 143.00 Oct/14 590.00 1710.25 -3292.30 USD Million [+]
Netherlands 5195.00 Oct/14 4707.00 5195.00 -907.60 EUR Million [+]
Russia 13595.00 Oct/14 12953.00 20356.00 -185.00 USD Million [+]
South Korea 5606.00 Nov/14 7380.00 7380.00 -4043.45 USD Million [+]
Spain -2373700.00 Sep/14 -2771962.00 634935.00 -9834766.00 EUR Thousand [+]
Switzerland 3868.00 Nov/14 3226.00 3901.00 -1478.68 CHF million [+]
Turkey -6251.72 Oct/14 -6925.00 24.51 -10453.06 USD Million [+]
United Kingdom -2024.00 Oct/14 -2822.00 2946.00 -5397.00 GBP Million [+]
United States -43400.00 Oct/14 -43600.00 1946.00 -67823.00 USD Million [+]