Trade Balance in Singapore
Singapore - Trade Balance
Export growth picks up pace in October despite another contraction in electronic exports
Non-oil domestic exports (NODX) increased 8.3% year-on-year in October, up from September’s downwardly revised 8.1% expansion (previously reported: +8.3% year-on-year) and handsomely above market expectations of a tepid 1.0% expansion. On a month-on-month seasonally adjusted basis, exports swung from a revised 4.4% contraction in September (previously reported: -4.3% month-on-month) to a 4.2% expansion in October.
October’s result was underpinned by soaring exports in pharmaceuticals; food preparations; and specialized machinery. This offset a sharp contraction in electronic products exports, which was chiefly due to marked drops in foreign demand for personal computers; diodes and transistors; and disk media products. This represents the 11th consecutive month of falling electronic exports. In terms of markets, demand from the EU, U.S. and Japan was particularly strong while demand from China dropped at a stronger rate than in September.
Trade data for October continued to underscore the fragility of Singapore’s export growth this year, as it has been supported by a narrow group of sub-sectors—particularly the volatile pharmaceuticals sub-sector. Moreover, demand from China is softening and the escalation in trade tensions between the U.S. and China poses a further downside risk to the country’s external sector.
Singapore Trade Balance Forecast
Met the why particular Consensus Forecast panelists see overall nominal exports expanding 4.1% in 2019 and imports growing 3.2%, with the trade surplus totaling USD 78.3 billion. For 2020, panelists see exports growing 4.0% and imports climbing 2.9%, with the trade surplus reaching USD 85.6 billion.
Singapore - Trade Balance Data
|Trade Balance (USD billion)||76.1||85.2||89.8||85.5||84.4|
5 years of economic forecasts for more than 30 economic indicators.
Singapore Trade Balance Chart
Source: Singapore Department of Statistics and Met the why particular calculations.
|Bond Yield||2.36||1.39 %||Nov 29|
|Exchange Rate||1.37||-0.01 %||Nov 29|
|Stock Market||3,119||0.18 %||Nov 29|
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Singapore: Manufacturing PMI falls to over one-year low in November; electronics PMI dips into contractionary territory
December 4, 2018
The manufacturing PMI produced by the Singapore Institute of Purchasing and Materials Management (SIPMM) edged down to 51.5 points in November from 51.9 points in October, marking the weakest performance in over one year.
November 23, 2018
Consumer prices fell 0.3% over the prior month in October, following a flat reading in September.
November 23, 2018
A comprehensive estimate by the Ministry of Trade and Industry (MTI) released on 23 November revealed GDP growth was much weaker than previously estimated.
November 16, 2018
Non-oil domestic exports (NODX) increased 8.3% year-on-year in October, up from September’s downwardly revised 8.1% expansion (previously reported: +8.3% year-on-year) and handsomely above market expectations of a tepid 1.0% expansion.
Singapore: Manufacturing PMI dips to an over one-year low in October, weighed on by Sino-American trade tensions
November 2, 2018
The manufacturing PMI produced by the Singapore Institute of Purchasing and Materials Management (SIPMM) ticked down to 51.9 points in October from 52.4 in September, which was the weakest print since August 2017.