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Singapore Net Trade (Goods & Services, BoP)

Singapore's net trade (goods & services, bop) rose to $192.58 billion in 2024, up from $189.18 billion in 2023, according to World Bank. This represents an increase of 1.8% ($3.39 billion) from the previous year. Singapore has the 2nd highest net trade (goods & services, bop). Other top countries are China, Ireland, Germany and Netherlands.

Yearly Historical Data (1972-2024)

(in Billion USD)
Year Net Trade (Goods & Services, BoP) (Billion USD)
2024 192.58
2023 189.18
2022 202.99
2021 158.31
2020 110.07
2019 110.55
2018 112.38
2017 91.72
2016 83.94
2015 84.08
2014 73.8
2013 71.09
2012 71.49
2011 76.98
2010 63.1
2009 45.62
2008 40
2007 56.58
2006 45.65
2005 38.2
2004 30.35
2003 27.3
2002 17.05
2001 14.81
2000 11.85
1999 14.67
1998 18.43
1997 14.75
1996 15.77
1995 14.74
1994 10.5
1993 4.55
1992 4.84
1991 4.59
1990 2.54
1989 2.5
1988 1.79
1987 0.04
1986 0.06
1985 -0.38
1984 -0.51
1983 -0.31
1982 -0.67
1981 -0.76
1980 -1.03
1979 -0.66
1978 -0.39
1977 -0.17
1976 -0.48
1975 -0.58
1974 -0.83
1973 -0.41
1972 -0.48
Singapore Net Trade (Goods & Services, BoP) : Definition
Net Trade (Goods & Services, BoP) measures the difference between exports and imports of goods and services in Singapore, recorded on a Balance of Payments basis and measured in current US dollars. A positive value indicates a trade surplus, while a negative value indicates a trade deficit.
Indicator Last Value Prior Value Period
Annual Exports $475.35B $514.97B 2023
Annual Imports $422.42B $475.41B 2023
Balance of Trade SGD 5.9B SGD 5B Sep'25
Exports SGD 60.9B SGD 57.7B Sep'25
Exports (% GDP) 178.78% 181.56% 2024
FDI Inflows (% GDP) 27.76% 26.21% 2024
Imports SGD 55B SGD 52.7B Sep'25
Imports (% GDP) 143.6% 144.13% 2024
Tariff Rate 0.05% 0.08% 2022
Trade (% GDP) 322.37% 325.69% 2024