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

Singapore recorded a trade surplus of 5180000 Thousand SGD in February 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.

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Singapore Balance of Trade


Actual Previous Highest Lowest Dates Unit Frequency
5180000.00 8500000.00 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 Thursday, March 26, 2015.


Singapore Trade Surplus Widens in February


Singaporean trade surplus increased to SGD 5.18 billion in February of 2015 from SGD 4.28 billion a year earlier, as exports fell at a slower pace than imports. Yet, non-oil exports declined more than expected as both electronic and non-electronic shipments contracted.

Total exports declined 16.1 percent to SGD 33.86 billion, following a 1.6 percent contraction in January.
 
Non-oil domestic exports (NODX) surprisingly decreased by 9.7 percent in January, as compared to a 4.3 percent growth in the previous month, due to a decline in both electronic and non-electronic NODX. Electronic sales decreased by 12.5 percent, after a 5.0 percent growth in the preceding month, largely due to parts of ICs (-68.2 percent), parts of PCs (-33.7 percent) and ICs (-4.4 percent). Non-electronic NODX contracted by 8.5 percent, reversing from a 4.0 percent increase in January, largely due to a decline in petrochemicals (-30.9 percent), pharmaceuticals (-22.4 percent) and primary chemicals (-24.3 percent).
 
Oil exports fell 46.7 percent, following a 33.3 percent contraction a month ago. The year-on-year decline of oil exports was mainly due to lower sales to Malaysia (-54.1 percent), the EU countries (-76.4 percent) and Indonesia (-54.9 percent).
 
Non-oil re-exports (NORX) rose by 0.9 percent in February, following a 12.7 percent expansion in the previous month, due to an increase in electronic NORX, which outweighed a decrease in non-electronic NORX. Electronic NORX increased by 4.6 percent following a 23.5 percent rise in the preceding month, due to telecommunications equipment (+53.9 percent), ICs (+3.2 percent) and disk media products (+42.3 percent). Non-electronic NORX decreased by 3.0 percent in February, reversing from a 2.0 percent growth in the previous month, largely due to a decline in civil engineering equipment parts (-25.8 percent), primary chemicals (-48.5 percent) and electrical circuit apparatus (-21.6 percent).
 
NODX to top ten markets in February decreased on an annual basis except for South Korea, the US, Thailand and Malaysia. The top three contributors to the decline were China, Japan and Taiwan. NODX to China fell by 22.7 percent, in contrast to a 4.5 percent growth in the previous month, led by petrochemicals (-38.7 percent), primary chemicals (-37.4 percent)and disk media products (-52.0 percent). NODX to Japan declined by 24.6 percent, following a 10.7 percent drop in January, due to printed matter (-90.4 percent), pharmaceuticals (-35.8 percent) and diodes & transistors (-66.2 percent). Those to Taiwan fell by 22.3 percent, in contrast to a 1.5 percent growth in the preceding month, due to ICs (-15.3 percent), specialised machinery (-67.5 percent) and petrochemicals (-56.6 percent). NODX to emerging markets contracted by 17.5 percent in February, in contrast to a 11.6 percent expansion in the previous month, mainly due to Caribbean (-93.1 percent), Latin America (-17.0 percent) and CLMV (-11.1 per cent).
 
NORX to top ten markets rose except to Indonesia, Hong Kong,  Malaysia and Japan. The top three contributors in the month were China (+12.7 percent), the US (+28.1 percent) and Taiwan (+34.5 percent).
 
Year-on-year, imports decreased by 20.5 percent to SGD 28.68 billion in February, following a 13.4 percent fall in the previous month.
 
In January, Singapore posted a  SGD 8.50 billion surplus, the largest since December 2011.

Statistics Singapore l Rida Husna l rida@tradingeconomics.com
3/17/2015 3:17:32 AM


Recent Releases

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. Published on 2015-02-17

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


Calendar GMT Event Actual Previous Consensus Forecast (i)
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 02:13 AM
Balance of Trade  Feb
SGD 5180M SGD 8500M SGD 5593.1M
2015-04-17 06:00 AM
Balance of Trade  Mar
SGD 5180M SGD 5731.1M
2015-05-18 06:00 AM
Balance of Trade  Apr
SGD 5755.5M
2015-06-17 06:00 AM
Balance of Trade  May
SGD 5842.4M


Singapore Trade Last Previous Highest Lowest Unit
Balance of Trade 5180000.00 8500000.00 9600000.00 -1985810.00 Thousand SGD [+]
Exports 33863900.00 42430000.00 48997750.00 197677.00 Thousand SGD [+]
Imports 28683200.00 33930000.00 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 1252108.00 1359983.00 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 -980.00 Jan/15 -503.00 2219.00 -3897.00 AUD Million [+]
Brazil -2841.76 Feb/15 -3173.95 5659.37 -4058.14 USD Million [+]
Canada -2451.00 Jan/15 -1218.00 8524.80 -2902.90 CAD Million [+]
China 606.19 Feb/15 600.30 606.19 -319.71 USD Hundred Million [+]
Euro Area 7943.60 Jan/15 24009.80 24009.80 -16638.00 EUR Million [+]
France -3726.00 Jan/15 -3296.00 2674.00 -7086.00 EUR Million [+]
Germany 15900.00 Jan/15 18900.00 23400.00 -535.91 EUR Million [+]
India -6847.00 Feb/15 -8322.00 258.90 -20210.90 USD Million [+]
Indonesia 738.30 Feb/15 743.50 4641.92 -2329.13 USD Million [+]
Italy 219.00 Jan/15 5741.00 6923.00 -6389.30 EUR Million [+]
Japan -425.00 Feb/15 -1177.50 1608.67 -2795.04 JPY Billion [+]
Mexico -3248.00 Jan/15 254.00 1710.25 -3292.30 USD Million [+]
Netherlands 5138.00 Jan/15 4891.20 5138.00 -907.60 EUR Million [+]
Russia 15047.00 Jan/15 12927.00 20356.00 -185.00 USD Million [+]
South Korea 7706.31 Feb/15 5362.32 7706.31 -4043.45 USD Million [+]
Spain -2596200.00 Jan/15 -1821800.00 634935.00 -9834766.00 EUR Thousand [+]
Switzerland 2472.61 Feb/15 3409.00 3894.91 -1478.68 CHF million [+]
Turkey -4305.31 Jan/15 -8505.55 24.51 -10453.06 USD Million [+]
United Kingdom -616.00 Jan/15 -2142.00 2946.00 -5397.00 GBP Million [+]
United States -41752.00 Jan/15 -45601.00 1946.00 -67823.00 USD Million [+]