Singapore

In 2013, the value of merchandise exports of Singapore increased slightly by 0.5 percent to reach 410.2 bln US$, while its merchandise imports decreased slightly by 1.8 percent to reach 373.0 bln US$ (see graph 1, table 2 and table 3). Although the data show substantial exports and imports growth in 2009-2013 (see table 2 and table 3), trade in the last couple of years has overall stagnated with 0.1 percent exports growth and 1.0 percent imports growth annually since 2011. In 2013, the merchandise trade balance recorded a relatively small surplus of 37.2 bln US$ (see graph 1). The largest merchandise trade balance was with MDG South-eastern Asia at 50.8 bln US$ (see graph 4). Merchandise exports in Singapore were diversified amongst partners; imports were also diversified. The top 14 partners accounted for 80 percent or more of exports and 15 partners accounted for 80 percent or more of imports (see graph 5). In 2012, the value of exports of services of Singapore increased slightly by 3.3 percent, reaching 112.2 bln US$, while its imports of services increased slightly by 2.8 percent and reached 117.9 bln US$ (see graph 2). There was a trade in services deficit of 5.7 bln US$, down slightly from the trade in services deficit of 6.1 bln US$ in 2011.

Related Subject(s): International Trade and Finance

Countries: Singapore