Singapore June non-oil domestic exports grow 6.8% year on year

17 July 2012 06:37  [Source: ICIS news]

SINGAPORE (ICIS)--Singapore’s non-oil domestic exports grew at a faster rate of 6.8% in June on an annual basis, more than double the growth rate in the previous month, with shipments to six out of 10 top markets registering increases, official data showed on Tuesday.

Its exports to Hong Kong, the eurozone, Indonesia, Taiwan, Japan and South Korea increased year on year in June.

Shipments to Malaysia were flat, while those to China, Thailand and the US, declined during the month, according to International Enterprise Singapore (IE Singapore).

Meanwhile, the city-state’s oil domestic exports declined by 2.8% year on year in June, a sharp deceleration from a 22% annual expansion recorded in May, because of lower sales to Hong Kong, India and Liberia.

In terms of volume, oil domestic exports for the month were up 4.3% year on year, much lower than the 21% growth recorded in the previous month, official data showed.

By: Pearl Bantillo
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