Singapore Trade Balance March 2022


Singapore: Export growth moderates in March

April 21, 2022

Non-oil domestic exports (NODX) increased 7.7% annually in March, on the heels of February’s 9.4% decrease. In seasonally-adjusted month-on-month terms, NODX exports declined 2.3% in March, following February’s 2.9% decrease.

FocusEconomics Consensus Forecast panelists project exports to total USD 540.0 billion in 2022 and rise to USD 568.0 billion in 2023.


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Singapore Trade Balance Chart

Singapore Trade March 2022

Note: Year-on-year and seasonally-adjusted month-on-month variation of non-oil domestic exports in %.
Source: Statistics Singapore (Singstat), International Enterprise (IE) Singapore and FocusEconomics calculations.

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