Total merchandise trade down 3.2% to $1t in 2019

Submitted By:  Nathanielle Punay Case Study:  No This is blamed on oil trade as it fell 13.9% in 2019 amidst lower oil prices. Singapore’s total merchandise trade contracted by 3.2% to $1t in 2019, lower by $100b from the $1.1t recorded in 2018, according to the Enterprise Singapore (ESG). This is the first decline recorded in two years, following the 9.2% and 11.1% growth in 2018 and 2017, respectively. This is blamed on oil trade which fell 13.9% in 2019 amidst lower oil prices than a year ago. Non-oil trade also dipped by 0.3% over the same period. read more