Insights for Singapore

MoM insights: In the month-on-month analysis, imports saw significant changes across various product categories. The top three increases were in Professional Scientific & Controlling Instruments & Apparatus Nes with a trade value of 1.58B, reflecting a value change of 104.41M (7.07% increase), followed by Non-Ferrous Metals at 944.7M with a 62.06M increase (7.03%), and Metalliferous Ores & Metal Scrap at 48.26M with an 11.07M increase (29.77%). Conversely, the largest decreases were in Electrical Machinery Apparatus & Appliances Nes & Electrical Parts Thereof at 16.99B, which dropped by 2.53B (-12.97%), followed by Office Machines & Automatic Data-Processing Machines at 3.44B with a decrease of 766.43M (-18.24%), and Telecommunications & Sound-Recording & Reproducing Apparatus & Equipment at 3.03B, down by 706.43M (-18.91%). Exports experienced a remarkable increase in Organic Chemicals, which surged to 4.02B with a value change of 3.2B (386.31%), followed by Miscellaneous Manufactured Articles Nes at 2.52B with a 257.88M increase (11.38%), and Beverages at 329.29M with a 24.38M increase (7.99%). The largest declines in exports were seen in Telecommunications & Sound-Recording & Reproducing Apparatus & Equipment at 3.37B, down by 1.27B (-27.34%), Petroleum & Products & Related Materials at 4.97B with a decrease of 1.25B (-20.10%), and Office Machines & Automatic Data-Processing Machines at 6.08B, down by 1.14B (-15.75%).

YoY insights: In the year-on-year analysis, imports showed a positive trend with Electrical Machinery Apparatus & Appliances Nes & Electrical Parts Thereof leading at 16.99B, reflecting a value change of 3.39B (24.89%), followed by Telecommunications & Sound-Recording & Reproducing Apparatus & Equipment at 3.03B with an increase of 508.31M (20.17%), and Non-Ferrous Metals at 944.7M with a substantial increase of 457.9M (94.06%). The largest declines were in Petroleum & Products & Related Materials at 6.81B, which fell by 1.82B (-21.12%), Miscellaneous Manufactured Articles Nes at 1.68B with a decrease of 617.2M (-26.85%), and Office Machines & Automatic Data-Processing Machines at 3.44B, down by 464.22M (-11.90%). Exports also showed strong growth, with Office Machines & Automatic Data-Processing Machines at 6.08B, increasing by 3.27B (116.50%), followed by Organic Chemicals at 4.02B with a value change of 2.9B (257.05%), and Electrical Machinery Apparatus & Appliances Nes & Electrical Parts Thereof at 19.93B, up by 2.37B (13.51%). The largest declines in exports were in Petroleum & Products & Related Materials at 4.97B, down by 648.12M (-11.54%), Plastics In Primary Forms at 897.38M with a decrease of 280.35M (-23.80%), and Oil Bunkers at 2.88B, down by 270.76M (-8.59%).