Singapore Trade Balance


Singapore: Exports improve in June

July 17, 2014

In June, non-oil domestic exports (NODX) fell 4.6% over the same month last year, which followed the 6.6% decrease recorded in May and came in below the 2.7% decrease that the markets had expected.

According to International Enterprise (IE) Singapore, exports of electronic products contracted 17.4% in June, which marked a deterioration over the 15.3% decrease observed in May. In addition, non-electronic exports rose 1.3%, which contrasted the 2.4% decline observed in the previous month.

On a month-on-month basis, exports rose a seasonally-adjusted 1.5% in June, which contrasted the 7.5% decrease recorded in May.

FocusEconomics Consensus Forecast panelists see overall nominal exports expanding 3.8% this year, which would bring exports to a total of USD 454 billion. For next year, the panel projects exports to grow 6.4%, for a total of USD 483 billion.

Author:, Senior Economist

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Singapore Trade Balance Chart

Singapore Trade June 2014 0

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

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