Total merchandise trade up 28.1% in Q2 22

This followed the 20.8% growth in the previous quarter.

The total merchandise trade went up by 28.1% year-on-year (YoY) in the second quarter (Q2) of 2022 after it also posted 20.8% growth in the first quarter (Q1) of 2022, Enterprise Singapore said.

In relation to this, figures showed that oil and non-oil trade grew to 69.5% and 19.9%, respectively, in Q2 2022.

Non-oil exports, which include non-oil domestic exports (NODX) and non-oil re-exports (NORX), increased YoY by 16.9%.

On a yearly basis, NODX rose 9.1% in Q2 2022 after a 11.4% growth in the preceding quarter. NODX increase was mainly due to domestic exports of electronics, which grew 9.7% in Q2 2022.

Domestic exports of non-electronic products went up 8.9% in Q2 2022.

Biggest contributors for NODX growth were Malaysia (+29.8%), Taiwan (+21.1%) and Indonesia (+24.2%).

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