1.  Overview the trade of SINGAPORE in goods current year until 202309

According to Dalian Infobank, in 202309, SINGAPORE's exports and imports of goods amounted to 76129.3460 million, and were down 9.04% comparing with the same period of last year. Among these, exports were down 9.50% at 40017.5650 million, and imports were down 8.52% at 36111.7810 million. And the corresponding trade surplus was 3905.7840 million and down 17.70%.

During the current year until 202309, SINGAPORE's total exports and imports of goods were 666918.2720 million and were down 12.23% comparing to the same period of last year. Among these, exports were 352460.3130 million and down 10.85%; imports were 314457.9590 million and down 13.72%. The total trade surplus was 38002.3540 million and up 22.88%.

If considering by country (region), CHINA, UNITED STATES, MALAYSIA, TAIWAN CN, HONG KONG CN were SINGAPORE's top five trading partners. During the current year until 202309, SINGAPORE's imports and exports to five countries/territories were 90467.1880 million, 72139.8070 million, 69171.7210 million, 51718.5950 million, 38034.6880 million. These values correspond to 13.56%, 10.82%, 10.37%, 7.75%, 5.70% of SINGAPORE's imports and exports, and, respectively, were down 4.76%, down 2.24%, down 18.50%, down 19.64%, down 19.91% comparing to the same period of last year.

Current year until 202309, SINGAPORE and the top five trade partners CHINA, HONG KONG CN, UNITED STATES, MALAYSIA, INDONESIA are the top five countries/territories that SINGAPORE exports to in terms of the total export amount. During the current year until 202309, SINGAPORE's exports to these five countries/territories were 47558.5880 million, 36309.4760 million, 34135.9710 million, 33430.6140 million, 25924.2210 million. These values correspond to 13.49%, 10.30%, 9.69%, 9.48%, 7.36% of SINGAPORE's exports and, respectively, were down 2.72%, down 19.17%, down 1.80%, down 15.02%, down 9.44% comparing with the same period of last year.

Current year until 202309, SINGAPORE's exports to top five countries/territories CHINA, UNITED STATES, TAIWAN CN, MALAYSIA, SOUTH KOREA are the top five countries/territories that SINGAPORE imports from in terms of the total export amount. During the current year until 202309, SINGAPORE's imports from these five countries/territories were 42908.6000 million, 38003.8360 million, 36229.9990 million, 35741.1070 million, 18663.9890 million. These values correspond to 13.65%, 12.09%, 11.52%, 11.37%, 5.94% of SINGAPORE's total imports and, respectively, were down 6.93%, down 2.63%, down 19.88%, down 21.50%, down 22.42% comparing with the same period of last year.

During the current year until 202309, the trade surplus of SINGAPORE was mainly from HONG KONG CN, INDONESIA, VIETNAM, AUSTRALIA, INDIA at 34584.2640 million, 13898.8640 million, 9110.3050 million, 6232.4960 million, 5259.8100 million, and down 18.35%, down 6.20%, up 0.53%, down 5.12%, up 33.30%. And the trade deficits were mainly from TAIWAN CN, FRANCE, UNITED ARAB EMIRATES, SAUDI ARABIA, UNITED STATES at 20741.4030 million, 7670.1490 million, 4963.2920 million, 4461.3980 million, 3867.8650 million, and down 20.46%, up 19.63%, down 40.53%, down 30.01%, down 9.36%.

Current year until 202309, SINGAPORE's trade surplus or deficit with top five countries/territories During the current year until 202309,  commodities with hs2 codes, 85, 27, 84, 71, 90, were SINGAPORE's top five traded commodities. They correspond to the import and export values of 217746.4080 million, 107701.1080 million, 102414.5220 million, 30048.0160 million, 27112.5730 million, which were down 16.16%, down 18.73%, down 2.27%, down 23.61%, down 7.84% comparing with the same period of last year and account for 32.65%, 16.15%, 15.36%, 4.51%, 4.07% of SINGAPORE's total imports and exports.

During the current year until 202309, 85, 84, 27, 99, 90 were SINGAPORE's top five traded commodities, with total import and export values of 119802.3160 million, 54054.3100 million, 43275.5480 million, 23425.9420 million, 17227.6500 million. These values correspond to 33.99%, 15.34%, 12.28%, 6.65%, 4.89% of SINGAPORE's total exports and, respectively, were down 14.60%, down 3.79%, down 14.60%, down 10.55%, down 0.16% comparing to the same period of last year.

During the current year until 202309, 85, 27, 84, 71, 90 were SINGAPORE's top five traded commodities, with total import values of 97944.0920 million, 64425.5600 million, 48360.2120 million, 15871.6540 million, 9884.9230 million. These values correspond to 31.15%, 20.49%, 15.38%, 5.05%, 3.14% of SINGAPORE's total exports and, respectively, were down 17.98%, down 21.28%, down 0.52%, down 24.00%, down 18.73% comparing to the same period of last year.

2. Current year until 202309, SINGAPORE binational trade profile

According to Dalian Infobank, during the current year until 202309, SINGAPORE-China binational exports and imports of goods amounted to 90467.1880 million and were down 4.76% comparing with the same period of last year. Among these, exports from SINGAPORE to China were 47558.5880 million and down 2.72%, imports from China to SINGAPORE were 42908.6000 million and down 6.93%. The total binational trade surplus was 4649.9880 million and up 66.95%.

During the urrent year until 202309, commodities with hs2 code, 85, 84, 27, 29, 71, were binational trade's top five traded commodities. They correspond to import and export values of 32471.1860 million, 15606.4160 million, 8137.6380 million, 5017.0170 million, 4515.1600 million and makes up 35.89%, 17.25%, 9.00%, 5.55%, 4.99% of the total binational imports and exports. These values were also down 15.88%, down 10.59%, up 17.59%, up 4.12%, up 277.91% comparing to the same period last year.

During the current year until 202309, 85, 84, 71, 39, 90 were the top five traded commodities exported to China from SINGAPORE, with export values of 17259.6830 million, 7674.1700 million, 4242.7990 million, 3004.4410 million, 2865.3460 million. These values account for 36.29%, 16.14%, 8.92%, 6.32%, 6.02% of SINGAPORE's total exports and were down 17.12%, down 6.97%, up 544.70%, down 28.17%, down 1.64% comparing to the same period of last year.

During the current year until 202309, 85, 84, 27, 29, 90 were SINGAPORE's top five traded commodities importing from China , with import values of 15211.5030 million, 7932.2460 million, 5590.0100 million, 3998.6750 million, 1017.8700 million. These values account for 35.45%, 18.49%, 13.03%, 9.32%, 2.37% of SINGAPORE's total imports and were down 14.43%, down 13.84%, up 12.47%, up 29.99%, down 15.52% comparing with the same period of last year.

3.Analysis of import and export trends

Data Source: IE Singapore