Trade Balance in Singapore
Singapore - Trade Balance
Export growth slackens in August
Non-oil domestic exports (NODX) increased 5.0% in August in annual terms, down from July’s revised 11.0% expansion (previously reported: +11.8% yoy) but overshooting market expectations. On a month-on-month seasonally adjusted basis, exports rose 0.4%, down from July’s 3.6% expansion.
August’s figure was once more supported by surging pharmaceutical exports, along with greater exports of prepared food and measuring instruments, and stronger demand from the U.S, the EU and Indonesia. On the other hand, the important electronic sector saw exports decline year-on-year for the ninth consecutive month. After being a major driver of export growth for much of 2017 thanks to booming world trade, the performance of electronic exports so far in 2018 is being affected in part by tough year-on-year comparatives.
Recent export growth has been underpinned by a narrow group of sub-sectors—particularly the volatile pharmaceuticals sub-sector—meaning a further slowdown in export growth is possible going forward. Softening Chinese demand and the potential for an escalation of the tariff war between the U.S. and China are key downside risks to Singapore’s export performance.
Singapore Trade Balance Forecast
Met the why particular Consensus Forecast panelists see overall nominal exports expanding 8.0% in 2018 and imports growing 9.4%, with the trade surplus reaching USD 86.8 billion. For 2019, panelists see exports growing 3.7% and imports climbing 4.0%, with the trade surplus totaling USD 89.0 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||2.53||1.39 %||Sep 20|
|Exchange Rate||1.36||-0.01 %||Sep 20|
|Stock Market||3,180||0.18 %||Sep 20|
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September 17, 2018
Non-oil domestic exports (NODX) increased 5.0% in August in annual terms, down from July’s revised 11.0% expansion (previously reported: +11.8% yoy) but overshooting market expectations.
September 12, 2018
The manufacturing PMI produced by the Singapore Institute of Purchasing and Materials Management (SIPMM) rose from 52.3 in July to 52.6 in August, putting a stop to four consecutive monthly declines.
August 23, 2018
Consumer prices decreased 0.1% over the previous month in July, contrasting June’s 0.1% increase.
August 17, 2018
Non-oil domestic exports (NODX) increased 11.8% in July in annual terms, picking up from June’s revised 0.8% increase (previously reported: +1.1% year-on-year) and markedly overshooting market expectations. July’s uptick was driven by greater non-electronic exports—particularly of food preparations, pharmaceuticals and primary chemicals—and greater demand from the U.S, Japan and Indonesia.
Singapore: Annual GDP growth revised up slightly in the second quarter, but still marks deceleration from Q1
August 13, 2018
A comprehensive estimate by the Ministry of Trade and Industry (MTI) released on 13 August showed that in the second quarter the economy grew a revised 3.9% year-on-year (previously reported: +3.8% year-on-year), down from Q1’s revised 4.5% (previously reported: +4.3% yoy).