, Singapore

Volume of total exports down 32.3% YoY in December 2022

Imports of goods went down by 26.7% over 2021.

The volume of total exports and imports declined by 32.3% and 26.7% in December 2022 compared to the same period last year, Census and Statistics Department (CS&D) said.

Comparing 2022 with 2021, the volume of total exports and imports went down 14.8% and 13.9%, respectively.

Comparing December 2022 with December 2021, the prices of total exports of goods and imports of goods increased by 5.5% and 5.0%, respectively.

Comparing price adjustments in 2022 from 2021, prices of total exports and imports grew by 7.8% and 8.1%, respectively.

“Price changes in external merchandise trade are reflected by changes in unit value indices of external merchandise trade, which are compiled based on average unit values or, for certain commodities, specific price data,” said CS&D.

Declines for import volume were reported from all suppliers: Korea (-43.8%), the Mainland (-33.8%), Japan (-18.3%), Taiwan (-15.0%) and Singapore (-11.4%).

Import prices from the Mainland (8.4%), Taiwan (1.9%), Japan (1.5%) and Korea (0.1%) went up. Import prices from Singapore, meanwhile, decreased by 0.4%.

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