Insights for Singapore

MoM insights: In the month-on-month analysis, imports saw a significant decline with a total trade value of 39.49B SGD, down by 7.6B SGD, which is a decrease of approximately 16.14%. The top three highest imports were Gas (501.71M SGD, +106.43M SGD, +26.92%), Photographic Apparatus Equipment & Supplies & Optical Goods Nes; Watches & Clocks (448.15M SGD, +45.91M SGD, +11.41%), and Coal, Coke & Briquettes (5.59M SGD, +2.28M SGD, +68.78%). Conversely, the bottom three imports were Electrical Machinery Apparatus & Appliances Nes & Electrical Parts Thereof (14.83B SGD, -2.66B SGD, -15.19%), Petroleum & Products & Related Materials (6.21B SGD, -1.95B SGD, -23.89%), and Office Machines & Automatic Data-Processing Machines (5.69B SGD, -855.86M SGD, -13.07%). Exports also experienced a notable decline, totaling 45.85B SGD, down by 15.66B SGD, which is a decrease of 25.46%. The top three highest exports were Miscellaneous Manufactured Articles Nes (2.46B SGD, +142.21M SGD, +6.15%), Oil Bunkers (3.08B SGD, +39.61M SGD, +1.30%), and Medicinal & Pharmaceutical Products (940.85M SGD, +18.56M SGD, +2.01%). The bottom three exports were Office Machines & Automatic Data-Processing Machines (6.99B SGD, -6.28B SGD, -47.36%), Electrical Machinery Apparatus & Appliances Nes & Electrical Parts Thereof (17.61B SGD, -6.22B SGD, -26.11%), and Petroleum & Products & Related Materials (4.32B SGD, -1.33B SGD, -23.52%).

YoY insights: In the year-on-year analysis, imports totaled 39.49B SGD, reflecting an increase of 3.9B SGD, which is a growth of approximately 10.95%. The top three highest imports were Office Machines & Automatic Data-Processing Machines (5.69B SGD, +2.87B SGD, +101.61%), Electrical Machinery Apparatus & Appliances Nes & Electrical Parts Thereof (14.83B SGD, +1.89B SGD, +14.61%), and Telecommunications & Sound-Recording & Reproducing Apparatus & Equipment (2.8B SGD, +1.06B SGD, +61.17%). The bottom three imports were Petroleum & Products & Related Materials (6.21B SGD, -2.1B SGD, -25.27%), Metalliferous Ores & Metal Scrap (50.01M SGD, -143.84M SGD, -741.99%), and Medicinal & Pharmaceutical Products (543.48M SGD, -140.34M SGD, -20.52%). Exports totaled 45.85B SGD, with an increase of 4.81B SGD, which is a growth of 11.71%. The top three highest exports were Office Machines & Automatic Data-Processing Machines (6.99B SGD, +4.23B SGD, +153.69%), Electrical Machinery Apparatus & Appliances Nes & Electrical Parts Thereof (17.61B SGD, +1.78B SGD, +11.26%), and Telecommunications & Sound-Recording & Reproducing Apparatus & Equipment (3.35B SGD, +1.14B SGD, +51.43%). The bottom three exports were Petroleum & Products & Related Materials (4.32B SGD, -1.26B SGD, -22.61%), Plastics In Primary Forms (804.54M SGD, -342.24M SGD, -29.84%), and Professional Scientific & Controlling Instruments & Apparatus Nes (1.73B SGD, -231.89M SGD, -11.80%).