Singapore Trade Surplus Narrows in January


Singapore's trade surplus decreased slightly to S$1.86 billion in January of 2013, as exports increased to S$41.40 billion and imports increased to S$39.54 billion.

On a year-on-year (y-o-y) basis, non-oil domestic exports (NODX) rose by 0.5 per cent in January 2013, compared to the 16.3 per cent decrease in the previous month, due to a rise in non-electronic NODX which outweighed the decline in electronic NODX.

On a y-o-y basis, NODX to all of the top 10 NODX markets, except the EU 27, the US, Thailand, Hong Kong and South Korea, rose in January 2013. The top three contributors to the NODX rise in January 2013 were China, Taiwan and Japan.
 
On a y-o-y basis, non-domestic retained exports (NORX) expanded by 13.6 per cent in January 2013, after the 8.5 per cent decrease in the previous month, due to both electronic and non-electronic NORX.
 
On a y-o-y basis, total trade rose by 1.4 per cent in January 2013, compared to the 8.2 per cent decrease in the previous month. Total exports grew by 2.2 per cent in January 2013, after the 13.8 per cent contraction in the previous month. Total imports increased by 0.6 per cent in January 2013, in contrast to the 1.5 per cent decline in the preceding month.
 
On a m-o-m SA basis, total trade expanded by 4.0 per cent in January 2013, compared to the 5.9 per cent decrease in the previous month. On a SA basis, the level of total trade reached S$79.4 billion in January 2013, higher than the previous month’s achievement of S$76.4 billion. Total exports rose by 0.7 per cent in January 2013, in contrast to a 4.9 per cent decrease in the previous month. Total imports grew by 7.6 per cent in January 2013, compared to a 7.1 per cent decline in the previous month.

International Enterprise Singapore | Nuno Salva | nuno.salva@tradingeconomics.com
2/18/2013 10:27:42 AM