Singapore September petrochemical exports dip 1.5%; NODX up 8.3%

Source: ICIS News

2018/10/17

SINGAPORE (ICIS)--Singapore’s petrochemical shipments in September slipped 1.5% year on year to Singapore dollar (S$) 1.37bn, even as the month’s overall non-oil domestic exports (NODX) growth accelerated to 8.3%, official data showed on Wednesday.

Tanjong Pagar Container Port in Singapore (Photo by Wallace Woon/Epa/REX/Shutterstock)

September export volumes of most aromatics declined year on year, with toluene down 36.2%, orthoxylene (OX) down 31.6% and paraxylene (PX) down 12.9%.

No benzene shipments were recorded during the month, according to data released by Enterprise Singapore.

Singapore's exports of petrochemical feedstock naphtha fell 29.2% year on year to 40,246 tonnes.

Meanwhile, the country's overall NODX in September increased to S$14.5bn, with growth accelerating from the 5.0% recorded in August, according to data.

Exports to six of Singapore’s top 10 markets declined, namely, China, South Korea, Malaysia, Taiwan, Japan and Hong Kong.

Its shipments to the US, EU28, Thailand and Indonesia posted double-digit growths in September on a year-on-year basis.

“On a month-on-month seasonally adjusted basis, NODX declined by 4.3% in September 2018, after the previous month’s 0.4% growth, due to the decrease in both electronic and non-electronic NODX,” Enterprise Singapore said.

(adds table on selected petrochemical exports by volume)

($1 = S$1.38)