Singapore’s import prices experienced a slight decline of 0.3% in April 2026, contrasting with a significant 17.1% increase in March, according to the Department of Statistics. This decrease was primarily driven by a 2.6% drop in oil prices, following a substantial 78.9% surge the previous month. In contrast, the non-oil import index saw a modest rise of 0.8%, attributed to higher prices in machinery, transport equipment, and chemicals.
Meanwhile, export prices in Singapore rose by 3% in April, building on an 11.9% increase in March. The oil export index increased by 7.5%, albeit at a slower pace than the 60.1% rise in March. The non-oil export index also grew by 1.5%, largely due to higher prices in chemicals, machinery, and manufactured goods.
Year-on-year, the import price index showed an 18.4% increase, with oil prices up by 72.6% and non-oil prices by 3.6%. The export price index rose by 13.3% compared to April 2025, with oil and non-oil indices increasing by 67.2% and 1.9%, respectively.
These fluctuations in import and export prices reflect ongoing changes in global commodity markets, impacting Singapore’s trade dynamics. The data provides valuable insights into the economic conditions affecting Singapore’s importers and exporters, highlighting the influence of oil prices and other key commodities on trade indices.
