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Singapore's Trade Surplus Narrows to SG$5.57 Billion in May

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Singapore's merchandise trade surplus contracted to SG$5.57 billion in May from SG$13.1 billion in the prior month, according to data from Enterprise Singapore released on Wednesday.

The latest figure, however, beat Trading Economics' forecast of SG$7 billion in surplus.

Total merchandise exports increased 39.7% year over year, faster than the 33.0% growth recorded in the previous month.

Meanwhile, total merchandise imports rose 43.6% year over year, compared with a 34.5% growth in the preceding month.

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