In the first three quarters of 2022, total trade growth in nominal terms outpaced that in real terms

Singapore’s total trade rose by 24.9 per cent year-on-year (y-o-y) in nominal terms in the first three quarters of 2022. Over this period, total trade in real terms grew at a slower pace of 8.7 per cent y-o-y. This article examines the drivers of Singapore’s nominal and real trade growth.

Both oil trade and electronics trade contributed to total trade growth in nominal and real terms in the first three quarters of the year, with their growth in nominal terms faster than that in real terms

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