Singapore's October non-oil exports grow by 35% annually

16 November 2010 08:38  [Source: ICIS news]

SINGAPORE (ICIS)--Singapore's non-oil domestic exports (NODX) grew by 35% in October from the same period last year, official figures showed on Tuesday.

Meanwhile, non-electronic NODX also grew by 35% year on year in October, International Enterprise Singapore (IE Singapore) said in its monthly report.

“The rise in non-electronic NODX was led by higher domestic exports of specialised machinery, pharmaceuticals and ships and boats,” IE Singapore said.

October’s growth rate was higher than in September, which showed an annual rise in exports of 23%.

On a month-on-month, seasonally-adjusted basis, the city-state's NODX rose by 1.5% in October, reversing a 3.5% decline in September, it said.

Total exports rose by 3.2% in October, in contrast to a 4.2% decrease in September, while total imports contracted by 0.5% in October, the agency added.

Overall, exports to the US and 27 countries in the EU climbed by 72% and 70% respectively on a year-on-year basis, according to IE Singapore.

October exports of primary chemicals to China and Taiwan rose year on year by 61% and 100% respectively, while petrochemical exports to Indonesia increased by 12%, it said.

Shipments of primary chemicals to South Korea surged by 43% year on year in October, the agency added.

The city-state's major NODX partners are the US, China, the EU, Malaysia, Indonesia, South Korea, Taiwan, Hong Kong, Indonesia, Japan and Thailand, it added.

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By: Nurluqman Suratman

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