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Singapore's scrap exports increase in Sep m-o-m, y-o-y

14 Nov 2024 14:49 reported by Stanley Wang

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Based on Singapore's trade statistics, Singapore exported a total of about 91,000 tons of scrap (HS code: 7204) in September, marking a 16.3% year-on-year increase. This is the first time in two months that Singapore has recorded year-on-year growth in this category. Compared to August, September's export volume rose by 31.2%.

Among them, Bangladesh was the top importer, soaring by 212.4% year on year to 62,000 tons and maintaining its lead as the largest importer for the third consecutive month. Indonesia followed in second place, importing 13,000 tons, up by 129.1% year on year.

In the first nine months, Singapore's scrap exports totaled around 680,000 tons, reflecting an 18.8% increase year-on-year, with an average monthly export volume of 76,000 tons. Annual exports are expected to reach 910,000 tons.

Bangladesh remained the top importer, with 294,000 tons, representing 43.3% of Singapore's total exports and showing a year-on-year growth of 132.4%. Indonesia ranked second, importing 154,000 tons, which accounted for 22.7% of exports and showed a 73.4% increase. Malaysia imported 99,000 tons, accounting for 14.6% of exports, but saw a year-on-year decline of 31.1%.

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