Singapore's petchem exports up 21.8% in July, NODX slips 0.7%

16 August 2013 04:07  [Source: ICIS news]

SINGAPORE (ICIS)--Singapore’s petrochemical exports rose by 21.8% year on year to Singapore dollar (S$) 1.35bn ($1.06bn) in July this year, amid a drop in non-oil domestic exports (NODX), official data showed on Friday.

The city-state’s NODX slipped by 0.7% year on year to S$15bn in July, due to a decrease in electronic NODX which outweighed the rise in non-electronic NODX, according to International Enterprise (IE) Singapore.

Singapore’s non-electronic NODX – which includes petrochemicals and pharmaceuticals – rose by 3% year on year to S$10.2bn in July, while electronic NODX was down by 7.6%, the trade promotion agency said in its monthly report.

The country’s petrochemical exports has been on an uptrend in the last three months, with shipments rising by 2.1% year on year in May and by 5.7% in June.

On a year-on-year basis, NODX to all of the top 10 markets, except the US, Hong Kong, China and Japan, decreased in July this year, according to IE Singapore.

The top three contributors to the NODX contraction in July were the EU, South Korea and Taiwan, it added.

($1 = S$1.27)

By: Nurluqman Suratman

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