Trade Balance in Singapore

Singapore Trade Balance | Economic News & Forecasts

Singapore - Trade Balance

Exports continue to surge in May, although it is uncertain whether the strong performance will last

Non-oil domestic exports (NODX) soared 15.5% in May, up from April’s 11.8% expansion and beating market expectations of a 4.7% rise. May’s reading marked the fastest expansion since October last year, and was underpinned by greater demand from the EU, the U.S. and Japan.

The rise was driven by greater non-electronic exports—particularly of civil engineering equipment parts, pharmaceuticals and food preparations. However, there are doubts over whether the strong export performance will be maintained going forward, as the pharmaceutical sector—which has powered growth over the last two months—is highly volatile. Moreover, the important electronics sector saw exports decline year-on-year for the sixth consecutive month in May. After being a major driver of export growth for much of 2017 thanks to booming world trade, this year’s performance is being affected in part by tough year-on-year comparatives.

On a month-on-month seasonally adjusted basis, exports rose 11.3%, up from the previous month’s 6.5% growth.

Singapore Exports Forecast

Met the why particular Consensus Forecast panelists see overall nominal exports expanding 7.5% in 2018, which would bring exports to a total of USD 425 billion. For 2019, the panel sees exports growing 5.4% and reaching a total of USD 448 billion. However, if simmering trade tensions between the U.S. and China come to the boil, this could dampen the performance of Singapore’s export sector.

Singapore - Trade Balance Data

2013  2014  2015  2016  2017  
Trade Balance (USD billion)76.1  85.2  89.8  85.5  84.4  

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Singapore Trade Balance Chart

Singapore Trade
Note: Trade balance in USD billion.
Source: Singapore Department of Statistics and Met the why particular calculations.

Singapore Facts

Bond Yield2.531.39 %Jun 19
Bond Yield2.531.39 %Jun 19
Exchange Rate1.36-0.01 %Jun 19
Exchange Rate1.36-0.01 %Jun 19
Stock Market3,3010.18 %Jun 19
Stock Market3,3010.18 %Jun 19

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