Insights for Singapore

MoM insights: In the month-on-month analysis, imports saw a significant increase in the trade value of Petroleum & Products & Related Materials, which rose by 1.36B SGD (20.02%). Office Machines & Automatic Data-Processing Machines also increased by 228.62M SGD (3.62%). Organic Chemicals experienced a notable rise of 208.94M SGD (30.28%). On the other hand, the imports of Electrical Machinery Apparatus & Appliances Nes & Electrical Parts Thereof decreased by 650.04M SGD (-3.58%), while Miscellaneous Manufactured Articles Nes and Professional Scientific & Controlling Instruments & Apparatus Nes saw declines of 299.24M SGD (-12.38%) and 244.28M SGD (-15.73%) respectively. For exports, Office Machines & Automatic Data-Processing Machines led with a remarkable increase of 6.22B SGD (88.24%). Electrical Machinery Apparatus & Appliances Nes & Electrical Parts Thereof followed with a rise of 3.45B SGD (16.93%). Organic Chemicals also increased by 517.24M SGD (70.41%). Conversely, Professional Scientific & Controlling Instruments & Apparatus Nes saw a decline of 532.16M SGD (-20.99%), Miscellaneous Manufactured Articles Nes decreased by 286.34M SGD (-11.04%), and Petroleum & Products & Related Materials fell by 196.05M SGD (-3.34%).

YoY insights: In the year-on-year analysis, imports of Electrical Machinery Apparatus & Appliances Nes & Electrical Parts Thereof increased by 2.09B SGD (13.56%), while Office Machines & Automatic Data-Processing Machines rose by 1.18B SGD (22.10%). Telecommunications & Sound-Recording & Reproducing Apparatus & Equipment also saw a significant increase of 661.01M SGD (27.67%). On the downside, imports of Petroleum & Products & Related Materials decreased by 998.37M SGD (-10.90%), Gas fell by 226.3M SGD (-36.41%), and Medicinal & Pharmaceutical Products dropped by 168.7M SGD (-22.62%). For exports, Office Machines & Automatic Data-Processing Machines experienced a substantial increase of 8.13B SGD (158.15%). Electrical Machinery Apparatus & Appliances Nes & Electrical Parts Thereof rose by 6.03B SGD (33.90%). Telecommunications & Sound-Recording & Reproducing Apparatus & Equipment also increased by 1.52B SGD (64.93%). However, exports of Petroleum & Products & Related Materials decreased by 952.25M SGD (-14.44%), Medicinal & Pharmaceutical Products fell by 198.62M SGD (-17.77%), and Plastics In Primary Forms dropped by 177.28M SGD (-16.52%).