INTERACTIVE: Singapore Nov petrochemical export growth slows to 4.4%

SINGAPORE (ICIS)–Singapore’s petrochemical exports in November increased by 4.4% year on year to Singapore dollar (S$) 1.5bn ($1.1bn), representing a sharp slowdown from the 22.9% growth posted in October, official data showed on Monday.

Exports of primary chemicals to China surged by 71.7% year on year in November, while shipments of other specialty chemicals to the US were up by 62.4%, according to International Enterprise (IE) Singapore.

By volume, Singapore’s exports of benzene in November rose by 36.8% year on year, while those of paraxylene (PX) and petrochemical feedstock naphtha were up by 7.8% and 28.1%, respectively.

But shipments of toluene fell by 18.5% and those of orthoxylene were down 21.4%.

Polycarbonates shipments in November slumped 61.1%, while phenol exports declined by 28.4%, the data showed.

Singapore’s overall non-oil domestic exports (NODX) in November rose by 9.1% year on year to S$15.6bn in November, a deceleration from the 20.5% expansion in October.

Exports to eight of its top 10 markets registered year-on-year growths in November, except Hong Kong and Taiwan.

The largest contributors to the year-on-year NODX increase were China, South Korea and the US.

Non-electronic NODX, which includes pharmaceuticals and petrochemicals, rose by 10.6% year on year to S$11.4bn in November.

Picture: Elevated view of container terminal in Singapore. (Cultura/REX/Shutterstock)

Interactive by Nurluqman Suratman

($1 = S$1.35)