Merchandise Trade

Since April 1987, Singapore’s merchandise trade statistics are compiled by Enterprise Singapore from the following information submitted to Singapore Customs:

1. Import and export permits submitted by traders or declaring agents;
2. Data on postal packages furnished by Singapore Post Limited; and
3. Statement on bunker fuel, aircraft fuel and stores supplied to non-Singapore-registered ships and aircraft furnished by shipping and aircraft agents.

Prior to April 1987, merchandise trade statistics were compiled by the Singapore Department of Statistics from the same sources.

The Standard International Trade Classification (SITC), Revision 4.1 is used for merchandise trade statistics from 1999, and SITC, Revision 3 for data prior to 1999.

Singapore adopts the "general" system for recording merchandise trade statistics. Under this system, all goods imported into or exported from Singapore are included in the merchandise trade statistics with the following major exceptions:

• Transhipment cargo;
• Goods imported and exported by joint defence force, and Ministry of Foreign Affairs;
• Exposed cinematographic films imported or exported on a rental basis;
• Commercial, shipping or airline documents, press photographs or negatives, news write-ups, news clippings, news films or news transcription tapes;
• Goods temporarily taken into or out of the country to be returned after a specific purpose, for example, for an exhibition;
• Personal and household effects (excluding motor vehicles) accompanying passengers, crews, or employees of transport for personal use;
• Trade samples and specimens for test or analysis; and gifts not exceeding the value of $400;
• Gold held as reserve assets that are exchanged between monetary authorities or authorised banks;
• Issued currency notes and coins.
• Diplomatic correspondences;
• Parcel post;
• Used motor vehicles covered by Carnet de Passage which are endorsed by the Automobile Association of Singapore;
• Human corpses, human remains, human bones or cremated ashes;
• Human transplant materials;
• Non-controlled goods exported by air, and not exceeding the value of $1,000; and
• Non-controlled goods imported by air, and not exceeding the value of $400.

Ships and aircraft are included if they are imported or exported as merchandise, whether or not they arrive or depart under their own power.

Domestic Exports

Refer to exports of Singapore origin. It comprises (i) primary commodities grown or produced in Singapore and (ii) goods which have been transformed, that is, manufactured, assembled or processed in Singapore including those with imported materials or parts.

Merchandise Exports

Refer to all goods taken out of Singapore, except those specified as excluded under the Coverage section. It comprises domestic exports and re-exports.  Merchandise exports are valued at ‘FOB’ (Free On Board), that is, the value of goods when sold abroad up to the point where the goods are deposited on board the outgoing vessel, aircraft or vehicle.

Re-Exports

Refers to all goods which are exported from Singapore in the same form as they have been imported without any transformation. Re-packing, splitting into lots, sorting or grading, marking and the like are not considered as undergoing this process of transformation.

Merchandise Imports

Refer to all goods brought into Singapore, except those specified as excluded under the Coverage section, irrespective of whether they are for consumption, for processing, for use in manufacturing, or for subsequent re-shipment to other countries.  Merchandise imports are valued at ‘CIF’ (Cost, Insurance and Freight), that is, the value of goods at the frontier of the exporting country plus the cost of insurance and freight and any other charges when sold for export to Singapore.

Merchandise Trade at 2023 Prices

This is obtained by adjusting the recorded value of trade using import and export price indices with base year 2023. The series on trade at 2023 prices indicate the volume of trade after adjusting for the effect of price changes.

Retained Imports

Goods imported and kept in the country for domestic use. See Re-exports.