Insights for Singapore

MoM insights: For the month-on-month analysis, imports from 'Other Asia, nes' saw the highest increase with a trade value of 11.9B SGD, reflecting a significant value change of 3.77B SGD (46.40% increase). Following closely, imports from Hong Kong increased to 1.32B SGD, with a value change of 883M SGD (200.68% increase). South Korea also contributed positively with imports rising to 4.22B SGD, a change of 798M SGD (23.31% increase). On the lower end, imports from the Philippines decreased to 644M SGD, with a value change of -832M SGD (-56.37% decrease). Switzerland's imports fell to 902M SGD, down by 717M SGD (-44.29% decrease). The United Arab Emirates also saw a decline, with imports at 1.47B SGD, a drop of 420M SGD (-22.19% decrease). For exports, China led with a trade value of 7.83B SGD, increasing by 1.59B SGD (25.55% increase). The United Kingdom followed with exports of 2.18B SGD, up by 1.49B SGD (215.03% increase). Hong Kong's exports reached 7.78B SGD, with a value change of 961M SGD (14.09% increase). Conversely, exports to Thailand decreased to 2.72B SGD, down by 1.8B SGD (-39.71% decrease). The United States saw a decline in exports to 6.55B SGD, with a drop of 1.29B SGD (-16.42% decrease). Belgium's exports were also down to 163M SGD, a decrease of 373M SGD (-69.59% decrease).

YoY insights: In the year-on-year analysis, imports from 'Other Asia, nes' increased to 11.9B SGD, with a value change of 2.98B SGD (33.46% increase). Vietnam's imports rose to 1.67B SGD, up by 888M SGD (113.70% increase). Hong Kong's imports also increased to 1.32B SGD, with a change of 554M SGD (72.04% increase). On the downside, imports from Malaysia decreased to 6.11B SGD, down by 460M SGD (-7.00% decrease). Ireland's imports fell to 91M SGD, a drop of 358M SGD (-79.73% decrease). Iraq's imports also saw a decline to 110M SGD, down by 349M SGD (-76.03% decrease). For exports, 'Other Asia, nes' led with a trade value of 6.12B SGD, increasing by 2.01B SGD (48.86% increase). The United Kingdom's exports rose to 2.18B SGD, with a value change of 1.59B SGD (271.38% increase). The United States also saw an increase in exports to 6.55B SGD, up by 1.06B SGD (19.28% increase). However, exports to China decreased to 7.83B SGD, down by 850M SGD (-9.79% decrease). Mexico's exports fell to 329M SGD, a drop of 573M SGD (-63.53% decrease). Japan's exports also decreased to 1.85B SGD, down by 361M SGD (-16.35% decrease).