It is supported by growth in total exports and imports.
Total trade in Singapore jumped by 7.1% year-on-year (yoy) in January, according to International Enterprise (IE) Singapore.
Total exports rose by 9.2% in January from 0.6% growth December, whilst total imports increased by 4.8% in January from 1.6% rise in December.
However, on a seasonally adjusted (SA) basis, IE Singapore noted that total trade declined in January after levels reached a recent high last December.
“On a m-o-m SA basis, total trade declined by 4.4% in January 2018, compared to the flat performance in December 2017. On a SA basis, the level of total trade reached S$80.7 billion in January 2018, lower than the previous month’s achievement of S$84.4 billion. Total exports decreased by 4.2% in January 2018, compared to the 0.7% increase in December 2017. Meanwhile, total imports declined by 4.6% in January 2018, after the 0.8% decrease in the previous month.”
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