Insights for Singapore

MoM insights: In the month-on-month analysis, imports from the Philippines saw the highest increase with a trade value of 1.48B, reflecting a significant value change of 986M, which is a 2.01% increase. Brazil followed with an import value of 1.18B, increasing by 215M (22.23%). Saudi Arabia also showed a notable increase with imports valued at 849M, up by 191M (29.03%). On the other hand, the largest decrease in imports was from Other Asia, nes, which dropped by 3.35B to 8.13B, a decrease of 29.20%. Malaysia's imports fell by 1.03B to 5.6B (15.57%), and China saw a decrease of 673M, bringing its imports down to 6.9B (8.88%). For exports, the United States led with a trade value of 7.84B, increasing by 2.22B (39.40%). Thailand's exports also rose to 4.52B, up by 950M (26.61%). Spain experienced a significant increase in exports, reaching 373M, up by 326M (693.62%). Conversely, Hong Kong's exports decreased by 1.28B to 6.82B (15.77%), China saw a drop of 1.25B to 6.24B (16.70%), and Other Asia, nes fell by 1.15B to 6B (16.01%).

YoY insights: In the year-on-year analysis, imports from the Philippines again showed strong performance with a trade value of 1.48B, increasing by 980M (1.98%). Switzerland also performed well with imports valued at 1.62B, up by 935M (1.37%). Other Asia, nes saw a growth of 756M, bringing its total to 8.13B (10.25%). On the downside, Ireland's imports fell to 164M, down by 330M (66.80%). The United States experienced a slight decrease in imports, valued at 5.73B, down by 261M (4.36%). India also saw a decline with imports at 687M, down by 222M (24.42%). For exports, Other Asia, nes led with a trade value of 6B, increasing by 3.14B (109.83%). Thailand's exports rose to 4.52B, up by 2.72B (151.00%). The United States also saw an increase in exports to 7.84B, up by 2.65B (51.06%). However, China faced a decline in exports, dropping to 6.24B, down by 1.68B (21.24%). Brunei's exports fell to 58M, down by 1.08B (94.92%), and Hong Kong's exports decreased by 652M to 6.82B (8.77%).