Singapore petrochemical exports rise 4.2% in Oct; up 5.7% in Q3

16 November 2012 04:02  [Source: ICIS news]

SINGAPORE (ICIS)--Singapore’s exports of petrochemicals grew by 4.2% year on year to Singapore dollar (S$) 1.11bn in October, tracking the rise in non-oil domestic shipments, which grew by 7.9%, official data showed on Friday.

The city-state’s NODX rose to S$15.2bn ($12.5bn) in October, according to International Enterprise (IE) Singapore.

October non-electronic NODX, which includes petrochemicals and pharmaceuticals, increased by 12.7% year on year to S$10.2bn, while electronic NODX shrank by 0.8%, it said.

On a year-on-year basis, Singapore’s exports to eight of its top 10 markets were up in October, according to IE Singapore. Shipments to Malaysia and South Korea, on the other hand, declined last month.

The US, Hong Kong and the EU are the top three contributors to the increase in Singapore’s exports in October, official data showed.

The southeast Asian country’s overall trade in October was up by 3.3% year on year to $84.6bn, with total exports up by 1.6%, after registering a 6.5% contraction in the previous month, IE Singapore said.

For the third quarter of 2012, Singapore’s petrochemicals exports grew by 5.7% year on year, while overall chemicals shipments slipped by 0.3%, it said.

On a year-on-year basis, the country’s NODX fell by 3.2% in July-September 2012, after growing by 3.7% in the previous quarter, on lower shipments of both electronic and non-electronic goods, according to IE Singapore.

Overall exports and imports in the September quarter declined by 4.2% and 1.3%, respectively, IE Singapore said.

($1 = S$1.22)

By: Nurluqman Suratman

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