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Trade in commodity of Singapore and the bilateral trade profile between China and Singapore in 2017

Source: CAEXPO Secretariat    Time:2018-03-13 17:09:02
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I. Trade in commodity of Singapore in2017

According to International Enterprise Singapore, 2017 witnessed the import and export volume of Singapore cargos of 701.11 billion USD, up by 14.4% compared with the previous year (compared with 2016, similarly hereinafter) with the export volume reaching 373.37 billion USD, up by 13.2% and the import volume increasing to 327.80 billion USD, up by 15.8%, which resulting in trade surplus of 45.56 billion USD, dropping by 2.8%.

Regionally in 2017,Singapore exported 54.07 billion USD to China, up by 26.2%, accounting for 14.5% of total export volume; the export volume to Chinese Hong Kong rose to 46.04 billion USD, up by 10.6%, accounting for 12.3% of total export volume; the export volume to Malaysia increased by 13.2% to 39.63 billion USD, accounting for 10.6% of total export volume; and it exported 27.96 billion USD to Indonesia, rising by 8.4%, accounting for 7.5% of total export volume. Singapore imported 45.37 billion USD from China, up by 12.3% and accounting for 13.8% of import volume; the import volume from Malaysia arrived at 38.87 billion USD, up by 20.5% and accounting for 11.9% of import volume; the import volume from America rose by 12.8% to 34.47 billion USD with it accounting for 10.5% of import volume; and it imported 27.17 billion USD from Chinese Taiwan, up by 16.6%, accounting for 8.3% of import volume. The top 5 trade surplus sources of Singapore in 2017 were in turn Chinese Hong Kong, Indonesia, Vietnam, China and Thailand, with trade surplus respectively 41.60 billion USD, 12.82 billion USD, 8.93 billion USD, 8.70 billion USD and 7.51 billion USD. The major trade deficit sources of Singapore were America, with trade deficit 11.01 billion USD up by 21.7%, Chinese Taiwan, with trade deficit 10.57 billion USD up by 23.4% and Saudi Arabia, with trade deficit 8.34 billion USD up by 13.9%.

Seen from commodities, the major export commodities were electromechanical products, mineral products and chemical products. The export volume of electromechanical products was 176.56 billion USD, up by 7.6% and accounting for 47.3% of the total export volume. The export volume of mineral products rose by 27.6% to 47.91 billion USD, accounting for 12.8% and the export volume of chemical products reached 37.00 billion USD, up by 8.1% and accounting for 9.9%. Among the classifications of electromechanical product, electrical machinery and electrical products exported 124.17 billion USD, up by 8.1%. The mechanical equipment exported 52.39 billion USD, up by 6.5%. The major importing commodities were electromechanical products, with its import volume of 138.38 billion USD, up by 8.7% accounting for 42.2% of total import volume and mineral products, with its import volume of 73.43 billion USD, up by 41.6% accounting for 22.4%.

II. The bilateral trade profile between China and Singapore in 2017

According to International Enterprise Singapore, 2017 saw the bilateral export and import volume between China and Singapore hitting 99.43 billion USD, up by 19.5%. Singapore exported 54.07 billion USD to China, rising by 26.2% and accounting for 14.5% of Singaporean total export volume, which increased by 1.5%; Singapore imported 45.37 billion USD from China, representing an increase of 12.3% over previous year and accounting for 13.8% of Singaporean total import volume, which dropped by 0.4%. The trade surplus of Singapore reached 8.70 billion USD, up by 254.7%.

The electromechanical products always took an overwhelming role in which Singapore exported to China, with export volume reaching 25.01 billion USD, up by 5.3% and accounting for 46.3% of export volume to China. Chemical products, mineral products and plastic and rubber ranked from the second to the fourth largest of commodities that exported to China. The export volume of chemical products to China reached 6.08 billion USD, accounting for 11.3% with an increase of 87.2%; the export volume of mineral products rose by 30.0% to 5.59 billion USD, accounting for 10.3%; the export volume of plastic and rubber hit 5.49 billion USD, accounting for 10.2%, increasing by 18.7%.

The import volume of electromechanical products ranked first among the importing commodities from China, with its import volume of 28.88 billion USD, up by 18.3%, accounting for 63.7 of import volume from China in 2017. Among the Electromechanical products, the import volume of electrical machinery and electrical products reached 19.14 billion USD, up by 21.4%; the mechanical equipment imported 9.74 billion USD, up by 12.6%. The import volume of mineral products and base metal and its products ranked the second and the third among the importing commodities from China, with the import volume of mineral product rising by 29.7% to 4.99 billion USD, accounting for 11.0% and the import volume of base metal and its products reaching 2.25 billion USD, accounting for 5.0%, down by 20.6%. Apart from what mentioned above, chemical products, optical clocks, medical facilities and textile and its raw materials played major parts that Singapore imported from China, collectively accounting for 8.7% of the import volume from China. China was the primary importing source of electromechanical products, base metal and its products, textile and its raw material and furniture and toy, respectively accounting for 20.9%, 22.4%, 27.8% and 36.8% of Singaporean market share. The major competitors of China in this field were Chinese Taiwan, Malaysia and Japan.
 
  
 
Table 1 Major commodities Singapore export to China(chapter)  
  Jan.to Dec.,2017     Monetary Unit:million USD  
HS CODE merchandise category export volume from Jan.to Dec.,2017 export volume of previous year YOY(%) Ratio(%)  
chapter gross value 54,067 42,839 26.2 100.0  
85 electrical machinery, electrical and audio and video equipment and their parts  19,448 18,935 2.7 36.0  
27 fossil fuel, mineral oil and its product; pitch 6,076 3,241 87.5 11.2  
84 nuclear reactor, boiler, machinery and parts 5,560 4,812 15.5 10.3  
39 Plastics and the products 4,812 4,131 16.5 8.9  
71 jewelry, precious metal and its products;imitation jewelry; coin 4,573 298 1,436.3 8.5  
90 optical equipment, photographic equipment, medical equipment and their parts 2,885 2,405 20.0 5.3  
29 organic chemicals 2,817 2,026 39.0 5.2  
38 Miscellaneous chemical products 1,083 1,158 -6.5 2.0  
33 Essential oils and balms;Perfume products and toiletries 865 578 49.6 1.6  
88 aircraft, spacecraft and its parts 831 884 -6.0 1.5  
74 copper and its products 765 595 28.7 1.4  
40 rubber and its products 673 491 37.2 1.3  
30 medical drugs 414 238 74.4 0.8  
87 vehicle and its parts( except for train) 317 356 -11.0 0.6  
22 drinks, wine and vinegar 250 199 26.1 0.5  
34 detergent, lubricant, synthetic wax, plasticized paste 222 140 59.1 0.4  
47 Fibrous cellulose pulp like wood pulp; waste paper and paperboard 205 194 5.7 0.4  
48 paper and paperboard;paper pulp, paper and paperboard products 190 53 259.6 0.4  
49 presswork;manuscript, typescript and design paper 189 171 10.7 0.4  
72 iron 172 140 23.4 0.3  
19 Farina, starch, milk product; pastry 139 212 -34.4 0.3  
75 nickel and its products 123 159 -22.7 0.2  
32 tanning material;staining material; coating; putty; ink 105 95 10.5 0.2  
82 Base metal appliance、mouthparts、tableware and its parts 87 80 8.3 0.2  
21 Miscellaneous Food 67 33 105.2 0.1  
73 steel product 67 77 -13.5 0.1  
18 cocoa and its products 65 76 -14.5 0.1  
91 clocks and its parts 56 48 17.8 0.1  
28 inorganic chemicals;compounds like precious metal 39 34 15.5 0.1  
54 Man-made filaments 34 35 -3.8 0.1  
  footing 53,129 41,889 26.8 98.3  
Table 2  Major commodities Singapore import from China(chapter)
  (Jan.to Dec.,2017     Monetary Unit:million USD
HS CODE merchandise category export volume from Jan.to Dec.,2017 export volume of previous year YOY(%) Ratio(%)
chapter gross value 45,366 40,386 12.3 100.0
85 electrical machinery, electrical and audio and video equipment and their parts  19,137 15,767 21.4 42.2
84 nuclear reactor, boiler, machinery and parts 9,744 8,651 12.6 21.5
27 fossil fuel, mineral oil and its product; pitch 4,906 3,713 32.1 10.8
90 optical equipment, photographic equipment, medical equipment and their parts 1,143 1,408 -18.8 2.5
29 organic chemicals 736 639 15.1 1.6
73 steel and its products 735 774 -5.0 1.6
72 iron 732 935 -21.7 1.6
39 plastic and its product 727 589 23.4 1.6
94 furniture; bedding;lamps;trailer coach 444 434 2.4 1.0
38 Miscellaneous chemical products 443 313 41.5 1.0
88 aircraft, spacecraft and parts 423 198 114.2 0.9
62 Unknitted or unhooked clothing  and its clothing accessories 361 361 0.2 0.8
76 aluminum and its products 340 395 -14.1 0.8
61 knitting or hooking clothing and its clothing accessories 309 313 -1.2 0.7
42 leatherware;Suitcase;Animal gut products 298 280 6.5 0.7
71 jewelry, precious metal and its products;imitation jewelry; coin 296 222 33.7 0.7
95 toy, game or sports equipment and its parts 284 254 11.8 0.6
64 boot、legguard and its parts 248 229 8.0 0.6
24 Tobacco and its products 242 242 0.0 0.5
48 paper and paperboard;paper pulp, paper and paperboard products 234 222 5.2 0.5
87 vehicle and its parts( except for train) 204 175 16.4 0.5
33 Essential oils and balms;Perfume products and toiletries 197 150 31.5 0.4
07 Edible vegetable and its root and tuber 146 160 -8.7 0.3
82 Base metal appliance、mouthparts、tableware and its parts 139 118 17.2 0.3
28 inorganic chemicals;compounds like precious metal 136 107 26.8 0.3
40 rubber and its products 132 113 16.7 0.3
70 glass and its products 130 158 -17.5 0.3
91 clock and its parts 128 119 8.1 0.3
83 Base metal miscellaneous products 127 116 9.0 0.3
69 ceramic product 122 126 -3.8 0.3
  footing 43,243 37,282 16.0 95.3
                       
 
 
 
Table 3  Major commodities Singapore export to China (category)
Jan.to Dec.,2017     Monetary Unit:million USD
customs classification HS CODE merchandise categories export volume from Jan.to Dec.,2017 export volume of previous year YOY(%) Ratio(%)
category chapter gross value 54,067 42,839 26.2 100.0
category 16th 84-85 Electromechanical products 25,008 23,747 5.3 46.3
category 5th 25-27 mineral products 6,081 3,248 87.2 11.3
category 6th 28-38 chemical products 5,592 4,303 30.0 10.3
category 7th 39-40 plastics, rubber 5,485 4,621 18.7 10.2
category 14th 71 precious metal and its products 4,573 298 1,436.3 8.5
category 18th 90-92 optical equipment, clocks, medical equipment 2,941 2,453 19.9 5.4
category 15th 72-83 base metal and its products 1,301 1,141 13.9 2.4
category 17th 86-89 transportation equipment 1,153 1,244 -7.3 2.1
category 10th 47-49 Cellulose pulp ;paper 583 417 39.8 1.1
category 4th 16-24 food, drinks,  tobacco 562 559 0.6 1.0
category 11th 50-63 textile and its raw material 87 81 8.1 0.2
category 20th 94-96 furniture, toys, miscellaneous products 49 64 -24.0 0.1
category 13th 68-70 ceramics ;glass 41 43 -2.6 0.1
category 9th 44-46 wood and  woodware 29 3 741.9 0.1
category 8th 41-43 leatherware and suitcase 26 23 14.4 0.1
    other 555 594 -6.7 1.0
 
 
 
Table 4 Major commodities Singapore import from China(category)
Jan.to Dec.,2017       Monetary Unit:million USD
customs classification HS CODE merchandise categories export volume from Jan.to Dec.,2017 export volume of previous year YOY(%) Ratio(%)
category chapter gross value 45,366 40,386 12.3 100.0
category 16th 84-85 Electromechanical products 28,882 24,418 18.3 63.7
category 5th 25-27 mineral products 4,994 3,849 29.7 11.0
category 15th 72-83 base metal and its products 2,250 2,832 -20.6 5.0
category 6th 28-38 chemical products 1,767 1,452 21.6 3.9
category 18th 90-92 optical equipment, clocks, medical equipment 1,287 1,546 -16.8 2.8
category 11th 50-63 textile and its raw material 925 945 -2.1 2.0
category 7th 39-40 plastics, rubber 860 703 22.4 1.9
category 20th 94-96 furniture, toys, miscellaneous products 816 771 5.9 1.8
category 17th 86-89 transportation equipment 780 612 27.5 1.7
category 4th 16-24 food, drinks,  tobacco 595 604 -1.5 1.3
category 13th 68-70 ceramics ;glass 323 374 -13.6 0.7
category 2nd 06-14 plant products 322 358 -10.0 0.7
category 8th 41-43 leatherware and suitcase 301 282 6.6 0.7
category 14th 71 Precious metal and its products 296 222 33.7 0.7
Category 12th 64-67 light industrial products like shoe, boot, umbrella 277 257 7.8 0.6
    other 692 1,161 -40.4 1.5
 
 

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