Trade Balance in Singapore
Singapore - Trade Balance
Non-oil exports unexpectedly rebound in February, despite another fall in electronics exports
Non-oil domestic exports (NODX) increased by 4.9% year-on-year in February, rebounding from January’s 11.1% decline which had marked the sharpest fall in over two years. The reading broke a run of three consecutive monthly contractions and confounded analysts’ expectations of a 3.4% contraction. On a month-on-month seasonally-adjusted basis, NODX expanded 16.0% in February following the previous month’s 5.7% decrease.
February’s result was underpinned by a healthy 9.4% jump in non-electronic NODX which was only partially offset by an 8.0% fall in electronics exports. That said, non-electronic NODX growth was largely thanks to the volatile pharmaceutical and non-monetary gold subsectors. Particularly, exports to China surged thanks to greater exports of non-monetary gold, aromatic chemicals and petrochemicals. Demand for Singaporean goods in Hong Kong, the U.S. and Thailand also expanded, whereas demand from Japan, South Korea and the EU28 continued to contract.
Singapore Trade Balance Forecast
Met the why particular Consensus Forecast panelists see overall nominal exports expanding 0.8% in 2019 and imports growing 1.8%, with the trade surplus totaling USD 94.6 billion. For 2020, panelists see exports growing 4.7% and imports climbing 6.0%, with the trade surplus reaching USD 94. 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||2.15||1.39 %||Mar 20|
|Exchange Rate||1.35||-0.01 %||Mar 20|
|Stock Market||3,208||0.18 %||Mar 20|
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Singapore: Non-oil exports unexpectedly rebound in February, despite another fall in electronics exports
March 18, 2019
Non-oil domestic exports (NODX) increased by 4.9% year-on-year in February, rebounding from January’s 11.1% decline which had marked the sharpest fall in over two years.
March 4, 2019
The manufacturing PMI produced by the Singapore Institute of Purchasing and Materials Management (SIPMM) fell to 50.4 points in February from 50.7 points in January, the lowest reading since December 2016.
February 25, 2019
Consumer prices fell 0.3% over the previous month in January, contrasting the 0.1% increase recorded in December.
February 15, 2019
Comprehensive national accounts data released on 15 February by Singstat showed that the economy slowed by more than previously estimated in the final quarter.
February 5, 2019
The manufacturing PMI produced by the Singapore Institute of Purchasing and Materials Management (SIPMM) fell to 50.7 points in January from 51.1 points in December, the lowest reading since December 2016.