Singapore's July petchem exports up 11.6%, non-oil exports up 2.1%

17 August 2012 03:24  [Source: ICIS news]

SINGAPORE (ICIS)--Singapore’s shipments of petrochemicals abroad grew by 11.6% year on year to Singapore dollar (S$) 1.11bn ($888m) in July as overall non-oil domestic exports (NODX) to most of the city-state’s top 10 markets rose, official data showed on Friday.

On a year-on-year basis, the city-state’s NODX grew by 5.8% year on year to S$15.2bn in July, following the 6.6% increase in the previous month, according to International Enterprise Singapore (IE Singapore), the country’s official trade promotion agency.

Singapore’s non-electronic NODX, which includes pharmaceuticals and petrochemicals, was up by 7.9% year on year at S$9.92bn, following the 9.2% rise in the preceding month, the agency said.

The country’s NODX to all of its top 10 NODX markets, except to the US, Japan, Malaysia and the EU, rose in July 2012, according to IE Singapore.

The top three contributors to the NODX increase in July were Hong Kong, Taiwan and South Korea, it said.

Exports of specialty chemicals to South Korea slightly more than doubled in July this year, IE Singapore said without giving exact figures.

($1 = S$1.25)

By: Nurluqman Suratman

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