India Singapore trade balance analysis for 5 years : 2013- 2018

| 0 Comment

Singapore is an island nation with area less than Delhi and 5.6 million population. However due to favorable business policy and strategic location it play a key role in international trade. India exported goods worth 10.2 billions USD and imported 7.4 billions USD with a trade surplus of 2.7 billion dollars in FY 2017-18.

India Singapore trade balance 5 years 2013-2018
India Singapore trade balance 5 years 2013-2018

Key Points of India Singapore trade balance in 5 years

  1. Export to Singapore increased by 6.7% in FY 2017-18
  2. Import from Singapore increased by 5.4%
  3. India’s export to Singapore in 5 years is highest in 2013-14 at 10.2 billions USD.
  4. India’s import from Singapore is highest in 2017-18 at 7.4 billions USD.
  5. Trade balance is in favor of India in tune of 2.73 billions USD.
  6. India’s total export was highest in 2013-14 at 314 billion USD in last 5 years.
  7. India’s import from Singapore is increasing  and it has been increased 10.4% since 2013-14

Also read, Rafale deal left trade deficit with France

Top 25 Commodities Imported from Singapore in 2017-18

Country:  Singapore in Million $ US
S.No. Commodity 2016-17 2017-18 %Growth
1 Organic Chemicals 1,151.38 1,500.27 30.3
2 Electrical Machinery And Equipment And Parts Thereof; Sound Recorders And Reproducers, Television Image And Sound Recorders And Reproducers,And Parts. 1,109.49 1,204.47 8.56
3 Nuclear Reactors, Boilers, Machinery And Mechanical Appliances; Parts Thereof. 1,108.38 1,096.45 -1.08
4 Plastic And Articles Thereof. 696.68 912.01 30.91
5 Mineral Fuels, Mineral Oils And Products Of Their Distillation; Bituminous Substances; Mineral Waxes. 628.18 530.24 -15.59
6 Natural Or Cultured Pearls,Precious Or Semiprecious Stones,Pre.Metals,Clad With Pre.Metal, Coin. 420.98 492.11 16.9
7 Optical, Photographic Cinematographic Measuring, Checking Precision, Medical Or Surgical Inst. And Apparatus Parts And Accessories Thereof; 369.92 430.7 16.43
8 Ships, Boats And Floating Structures. 723.05 288.16 -60.15
9 Miscellaneous Chemical Products. 197.48 224.81 13.84
10 Iron And Steel 166.38 171.3 2.96
11 Rubber And Articles Thereof. 80.03 84.25 5.28
12 Aluminum And Articles Thereof. 43.91 58.03 32.14
13 Tanning Or Dyeing Extracts; Tannin  Dyes, Pigments And Other Coloring Matter; Paints; Putty And Other Mastic; Inks. 44.39 55.29 24.55
14 Aircraft, Spacecraft, And Parts Thereof. 15.65 47.25 201.82
15 Pharmaceutical Products 20.17 43.09 113.68
16 Articles Of Iron Or Steel 31.15 38.31 23
17 Man-Made Filaments. 19.63 25.17 28.21
18 Beverages, Spirits And Vinegar. 20.04 24.4 21.74
19 Paper And Paperboard; Articles Of Paper Pulp, Of Paper Or Of Paperboard. 21.57 20.91 -3.04
20 Furniture; Bedding, Mattresses, Mattress Supports, Cushions And Similar Stuffed Furnishing; Lamps And Lighting Fittings Not Elsewhere Specified Or Inc 13.84 17.53 26.63
21 Cocoa And Cocoa Preparations. 19.64 17.2 -12.39
22 Soap, Organic Surface-Active Agents, Washing Preparations, Lubricating Preparations, Artificial Waxes, Prepared Waxes, Polishing Or Scouring Prep. 17.51 16.4 -6.34
23 Printed Books, Newspapers, Pictures And Other Products Of The Printing Industry; Manuscripts, Typescripts And Plans. 12.52 15.19 21.32
24 Pulp Of Wood Or Of Other Fibrous Cellulose Material; Waste And Scrap Of Paper Or Paperboard. 8.21 14.01 70.75
25 Essential Oils And Resinous; Perfumery, Cosmetic Or Toilet Preparations. 16.14 13.22 -18.05

Top 25 commodities exported to Singapore by India in 2017-18

Country:  Singapore, values  in Million $ US
S.No. Commodity 2016-17 2017-18 %Growth
1 Mineral Fuels, Mineral Oils And Products Of Their Distillation; Bituminous Substances; Mineral Waxes. 4,757.42 6,179.20 29.89
2 Ships, Boats And Floating Structures. 1,590.68 675.17 -57.55
3 Natural Or Cultured Pearls,Precious Or Semiprecious Stones,Pre.Metals,Clad With Pre.Metal ;Coin. 564.94 560.25 -0.83
4 Nuclear Reactors, Boilers, Machinery And Mechanical Appliances; Parts Thereof. 382.39 513.07 34.17
5 Organic Chemicals 325.48 369.29 13.46
6 Aircraft, Spacecraft, And Parts Thereof. 263.59 249.63 -5.3
7 Electrical Machinery And Equipment And Parts Thereof; Sound Recorders And Reproducers, Television Image And Sound Recorders And Reproducers,And Parts. 234.02 232.58 -0.61
8 Optical, Photographic Cinematographic Measuring, Checking Precision, Medical Or Surgical Inst. And Apparatus Parts And Accessories Thereof; 154.98 167.35 7.98
9 Copper And Articles Thereof. 292.58 152.24 -47.97
10 Iron And Steel 36.55 110 200.97
11 Aluminum And Articles Thereof. 58.63 86.17 46.98
12 Tanning Or Dyeing Extracts; Tannin  Dyes, Pigments And Other Coloring Matter; Paints ; Putty And Other Mastic; Inks. 61.11 82.8 35.49
13 Essential Oils And Resinous; Perfumery, Cosmetic Or Toilet Preparations. 71.19 76.2 7.04
14 Pharmaceutical Products 56.55 65.94 16.59
15 Cereals. 54.54 50.9 -6.66
16 Articles Of Iron Or Steel 37.55 45.26 20.54
17 Fish And Crustaceans, Molluscs And Other Aquatic Invertebrates. 41.72 40.19 -3.65
18 Vehicles Other Than Railway Or Tramway Rolling Stock, And Parts And Accessories Thereof. 36.05 39.29 8.97
19 Plastic And Articles Thereof. 32.46 38.26 17.85
20 Miscellaneous Chemical Products. 43.11 34.54 -19.88
21 Articles Of Apparel And Clothing Accessories, Not Knitted Or Crocheted. 35.72 31.41 -12.08
22 Beverages, Spirits And Vinegar. 20.22 31.19 54.26
23 Paper And Paperboard; Articles Of Paper Pulp, Of Paper Or Of Paperboard. 20.4 22.44 10.02
24 Edible Vegetables And Certain Roots And Tubers. 23.13 21.99 -4.95
25 Articles Of Apparel And Clothing Accessories, Knitted Or Crocheted. 16.14 20.76 28.57

Source Ministry of Commerce and Industry, India

Related Articles

Leave a Comment