Singapore's import and export price indices rose in 2017

Import prices increased 5.8%, whilst export prices were up by 2.9%.

Singapore’s National Statistics Office reported that Singapore’s import and export prices went up by 5.8% and 2.9% YoY, respectively, in 2017.

Five commodities showed higher prices, led by oil (29.5%), manufactured goods (4.5%), animal and vegetable oils (3.7%), chemicals and chemical products (3.1%), crude materials (2.7%), food and live animals (1.7%), and beverages and tobacco (0.7%).

These were partially offset by lower prices of machinery and transport equipment (-0.3%), and miscellaneous manufactured articles (-0.1%).

Meanwhile, increases in export prices of oil (25.7%), crude materials (14.9%), animal and vegetable oils (5.2%), manufactured goods (2.7%), chemicals and chemical products (0.9%), and miscellaneous manufactured articles (0.7%) were partially moderated by decreases in prices of food and live animals (-2.2%), machinery and transport equipment (-2.1%), and beverages and tobacco (-1.7%).