Total trade jumps to S$245b

Thanks to increases in both oil and non-oil trade in the second quarter.

International Enterprise (IE) Singapore reported:

On a y-o-y basis, Singapore’s total external trade expanded by 7.5 percent in 2Q 2011, following a 12 percent increase recorded in the previous quarter. Total trade reached S$245 billion in 2Q 2011, higher than the previous quarter’s achievement of S$235 billion. Total exports and total imports grew by 6.8 percent and 8.4 percent respectively in 2Q 2011.

On a q-o-q SA basis, Singapore’s total external trade rose marginally by 0.2 percent in 2Q 2011, following the increase of 7.9 percent in 1Q 2011.

Total trade’s y-o-y rise in 2Q 2011 can be attributed to increase in both oil and nonoil trade. Oil trade expanded by 29 percent y-o-y in 2Q 2011, following the previous quarter’s 30 percent increase. Non-oil trade increased marginally by 0.4 percent in 2Q 2011, after the 5.8 percent expansion in 1Q 2011.

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