, Singapore

Oil trade heats up amidst price hikes

Its 36% growth reversed the 18% decline in 2016.

Singapore's oil trade heats up amidst higher prices as it recovered from an 18% decline in 2016 to a 36% growth in 2017, Internation Enterprise (IE) Singapore revealed.

According to its review of trade performance, oil trade contributed 52% of the total trade growth in 2017, higher than its trade share of 20%. This helped Singapore's total trade expand by 11% to $967b in 2017.

The oil trade growth may partly reflect the recovery in oil prices (+24%) in 2017 from the low in 2016. In volume terms, oil trade also grew by 6.3% in 2017.

Meanwhile, non-oil trade grew by 6.4% in 2017, reversing the 1.9% decline in 2016.

Join Singapore Business Review community
A NOTE FROM SINGAPORE BUSINESS REVIEW

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.


If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.