Singapore's petchem exports surge 30.4% in Dec 2010

17 January 2011 12:51  [Source: ICIS news]

SINGAPORE (ICIS)--Singapore’s exports of petrochemicals jumped 30.4% year on year to S$1.29bn ($1bn) in December 2010 as overall non-oil domestic exports (NODX) to most of the city-state’s top ten trading partners rose, official figures showed on Monday.

Exports of chemicals and chemical products grew 14.5% year on year to S$3.69bn in December, International Enterprise Singapore (IE Singapore) said in its monthly report. Shipments of pharmaceuticals, meanwhile, fell 2.8% to S$1.24bn.

Overall, the city state’s NODX grew 9.4% to S$14.4bn.

Singapore’s total exports grew 12.3% year on year for the month to S$41.5bn, while imports rose 5.5% to S$35.6bn.

Non-oil exports to all of Singapore’s top ten NODX trading partners rose, IE Singapore said, the top three contributors being the 27-member EU, Hong Kong and China.

Exports of primary chemicals and petrochemicals to China rose 51% and 16% year on year respectively while shipments of petrochemicals to the EU 27 surged.

Petrochemical shipments to South Korea rose 79%, to Thailand by 28% and to Indonesia by 24%.

Shipments of primary chemicals to Taiwan rose 53%.

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

Non-electronic NODX expanded 16% year on year to S$9.27bn in December 2010, IE Singapore said, led by petrochemicals, specialised machinery and measuring instruments.

 ($1 = S$1.29)

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By: Nurluqman Suratman

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