Singapore’s March chemical export up by 11.7%, NODX down by 4.3%

17 April 2012 05:39  [Source: ICIS news]

SINGAPORE (ICIS)--Singapore’s March chemical exports rose by 11.7% year on year to Singapore dollar (S$) 4.6bn ($3.68bn) and its non-oil domestic exports (NODX) fell by 4.3%, as shipments to China decreased, official data showed on Tuesday.

This compares with a 30% year-on-year expansion in the city-state’s NODX in February 2012, International Enterprise (IE) Singapore said in its monthly report.

The city-state’s exports of petrochemicals fell by 13% year on year to S$1.11bn in March, while overseas shipments of pharmaceuticals grew by 44.5% to S$2.19bn, according to the data.

On a year-on-year basis, non-electronic NODX – which includes chemicals -contracted by 7.8% cent in March 2012, compared with a 34% increase in the previous month, it said.

“The decrease in non-electronic NODX was due to lower exports of structures of ships & boats, petrochemicals and primary chemicals,” the trade agency said.

On a year-on-year basis, NODX to China decreased in March 2012, while NODX to South Korea, Hong Kong, the EU, Malaysia, Japan, the US, Taiwan, Indonesia and Thailand increased, according to IE Singapore.

Among Singapore’s top markets, China was the top contributor to the NODX contraction in March 2012, with non-electronic NODX to the country down by 4.3% year on year, it added.

The country’s total trade fell by 0.9% year on year to S$87.6bn in March, with exports down by 2.2% to S$45bn and imports up by 0.6% to S$42.6bn.

($1 = S$1.25)

By: Nurluqman Suratman

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