Singapore recorded a trade surplus of 3037.50 Million SGD in September of 2020. source: Statistics Singapore

Balance of Trade in Singapore averaged 962.13 Million SGD from 1964 until 2020, reaching an all time high of 7973.33 Million SGD in March of 2015 and a record low of -1999.81 Million SGD in October of 1993. This page provides the latest reported value for - Singapore Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Singapore Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020.

Balance of Trade in Singapore is expected to be 6800.00 Million SGD by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Singapore to stand at 4300.00 in 12 months time. In the long-term, the Singapore Balance of Trade is projected to trend around 7300.00 Million SGD in 2021 and 3400.00 Million SGD in 2022, according to our econometric models.

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Singapore Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
3037.50 6481.55 7973.33 -1999.81 1964 - 2020 Million SGD Monthly

Calendar GMT Actual Previous Consensus TEForecast
2020-07-17 12:30 AM Jun $4.99B $4.52B $ 1.8B
2020-08-17 12:30 AM Jul $3.3B $4.99B $4.5B
2020-09-17 01:00 AM Aug $5.8B $3.2B $3.5B
2020-10-16 12:30 AM Sep $3.04B $6.48B $ 5.4B
2020-11-17 12:30 AM Oct $3.04B
2020-12-17 12:30 AM Nov

Singapore Balance of Trade
Singapore economy relies on purchasing of intermediate goods and exporting of high-value added products. Main exports are: machinery and equipment (43 percent of the total exports); petroleum (19 percent) and chemicals (13 percent). Main imports are: machinery and equipment (39 percent of the total imports); petroleum (33 percent); chemical products (7 percent) and miscellaneous manufactured articles (7 percent). In 2017, the biggest trade deficits were recorded with China, Hong Kong, Malaysia, Indonesia and the United States. Singapore did not record surpluses with any country.