(MENAFN) According to the International Enterprise Singapore, the country's total merchandise trade edged up 0.3 percent in 2014 over a decline of 0.5 percent in 2013, Xinhua reported.
Singapore's total merchandise trade has reached USD725.3 billion last year, higher than the previous record of USD723.5 billion, the International Enterprise data showed.
Total merchandise exports expanded by 1.1 percent in 2014, while merchandise imports declined by 0.6 percent in the same period, attributing the growth to an increase in non-oil trade.
Oil trade shrank by 1.7 percent in 2014, following a decline by 5.1 percent in the prior year. Meanwhile, non-oil trade surged 1 percent last year, after a 1.4 percent growth in 2013.
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