Singapore's May chemical exports up 3.7%, NODX up 3.2%

11 June 2012 12:36  [Source: ICIS news]

SINGAPORE (ICIS)--Singapore’s May chemical exports rose by 3.7% year on year to Singapore dollar (S$) 4.09bn ($3.2bn), tracking the rise in overall non-oil domestic exports (NODX), official data showed on Monday.

The city-state’s exports of petrochemicals rose by 6.8% year on year to S$1.13bn in May, while overseas shipments of pharmaceuticals grew slightly by 0.3% to S$1.66bn, according to data by International Enterprise (IE) Singapore.

Singapore’s overall NODX rose by 3.2% year on year to S$14.9bn in May, following the 1.7% increase in the previous month, “due to both electronic and non-electronic NODX,” it said in a statement.

The country’s non-electronic NODX expanded by 2.8% year on year in May to S$9.61bn, buoyed largely by higher exports of petrochemicals, aromatic chemicals and civil engineering equipment parts, according to IE Singapore.

Overall NODX to South Korea rose by 15% year on year, following the preceding month’s 42% increase, led by “other” specialty chemicals, petrochemicals and primary chemicals, it said.

On a year-year on year basis, NODX to all of the top 10 NODX markets, except to the US, Japan and China, rose in May 2012.

Singapore’s total exports grew by 3.3% year on year to S$43.6bn in May this year, after the 1.6% expansion in the previous month.

($1 = S$1.28)

By: Nurluqman Suratman

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