Singapore - Imports of Goods and Services

Singapore: Imports of Goods and Services

Mnemonic IM.ISGP
Unit Mil. SGD, NSA
Adjustments Not Seasonally Adjusted
Quarterly 18.76 %
Data 2020 Q2 146,244
2020 Q1 180,012

Series Information

Source Singapore Department of Statistics (DOS)
Release GDP - Advanced
Frequency Quarterly
Start Date 3/31/1975
End Date 6/30/2020

Singapore: Trade

Reference Last Previous Units Frequency
Balance of Goods 2020 Q2 29,850 26,619 Mil. SGD, NSA Quarterly
Current Account Balance 2020 Q2 17,966 15,985 Mil. SGD, NSA Quarterly
Exports of Goods 2020 Q2 124,482 142,550 Mil. SGD, NSA Quarterly
Exports of Goods and Services 2020 Q2 179,897 208,511 Mil. SGD, NSA Quarterly
Imports of Goods 2020 Q2 94,631 115,930 Mil. SGD, NSA Quarterly
Imports of Goods and Services 2020 Q2 146,244 180,012 Mil. SGD, NSA Quarterly
Net Exports 2020 Q2 33,653 28,498 Mil. SGD, NSA Quarterly
Real Imports of Goods and Services 2020 Q2 153,078 181,304 Mil. Ch. 2015 SGD, NSA Quarterly
Real Net Exports 2020 Q2 31,975 27,162 Mil. Ch. 2015 SGD, SA Quarterly
Real Exports of Goods and Services 2017 843,207,200,000 810,026,400,000 NCU Annual

Release Information

The Singapore Department of Statistics compiles GDP estimates by the output, expenditure and income approaches. Two public releases of GDP estimates are made for each reference quarter. Quarterly from 1975.

The System of National Accounts (SNA) is used as the overall conceptual framework. Singapore has adopted the major recommendations of UN SNA 2008. The development of the Singapore economy depends heavily on foreign capital, foreign technology and foreign workers. Consequently, a large share of the compensation of employees and operating surplus, as recorded in national accounts, accrue to foreigners and foreign enterprises. Per capita Gross National Income as conventionally defined on a residential basis may not therefore reflect correctly the income accrued to Singaporeans. Hence, a series on indigenous per capita GNI which excludes the foreigners' contribution is compiled. This involves the calculation of income accruing to foreign workers and foreign enterprises in Singapore, and excluding it from GNI.

Valuation of GDP estimates: At market prices, that is, the prices actually paid by the purchaser.

Industrial activities are classified using the Singapore Standard Industrial Classification 2010 which is adapted from the International Standard Industrial Classification, Revision 4. The current base year is 2010. The frequency of update is once every five years.

Advanced estimates for GDP at 2010 market prices are computed largely from data in the first two months of the quarter (e.g. 1st Quarter is based on Jan and Feb; 2nd Quarter is based on Apr and May). They are intended as an early indication of the GDP growth in the quarter, and are subject to revision when more comprehensive data become available. Prior to 2010, the aggregates at 2010 prices may not equal the sum of their components.

GDP at Constant Prices
In order to compare the real value of output/expenditure over time, it is necessary to remove the effect of price changes. This is achieved by selecting the price structure of 2000 as the base according to which the goods and services in other years are revalued. The resulting aggregates after adjustment for price changes are known as constant-price estimates.
GDP Deflators
Provide a broad measure of the change in the overall level of prices of the goods and services that make up GDP between the base year 2000 and any other period. The deflators are derived as the ratio of the current price value of a component of GDP to its corresponding constant price value, with the base year index set at 100.
Gross National Income (GNI)
The sum of gross factor incomes (incomes arising from the involvement in production processes or ownership of assets that may be needed for production) receivable by resident units.
Indigenous GNI
The aggregate value of GNI accrued to Singaporeans.
Gross Domestic Product (GDP)
The aggregate value of the goods and services produced in the economic territory of Singapore.
Output-based GDP
The sum of gross value added generated by economic activities in the domestic economy.
Expenditure on GDP
The sum of private consumption expenditure of households including non-profit institutions serving households, government consumption expenditure, gross capital formation and net exports.
Income Components of GDP
The sum of incomes receivable by each institutional sector from the domestic production of goods and services which includes compensation of employees, gross operating surplus and taxes (less subsidies, if any) on production and on imports.

The data are provisional when first released, and this status is indicated in the quarterly and annual Economic Survey of Singapore (QES/AES). Quarterly and annual data for earlier years are revised at the time of publication of the annual Economic Survey of Singapore (AES). The data usually become final two years after first release, and the final data are published in the QES and AES publications.