Singapore Trade Balance June 2020


Singapore: Non-oil exports rebound sharply in June

July 17, 2020

Non-oil domestic exports (NODX) jumped 16.1% year-on-year in June, contrasting May’s 4.6% decline. The result—which benefitted from a strong base effect—was notably above market expectations of a 6.2% increase and came on the back of the easing of circuit breaker measures in June.

Looking at the details, June’s result reflected a strong increase in both electronic—particularly telecommunications and disk media products—and non-electronic products. In terms of markets, exports to Japan, South Korea and Taiwan rose strongly, while outflows to Hong Kong retreated further.

In month-on-month terms, NODX exports inched up 0.5% in June, contrasting May’s 4.6% decline.

FocusEconomics Consensus Forecast panelists project exports to total USD 369.0 billion this year and rise to USD 421.0 billion next year.


Sample Report

Looking for forecasts related to Trade Balance in Singapore? Download a sample report now.


Singapore Trade Balance Chart

Singapore Trade June 20 20

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.

Singapore Economic News

More news

Search form