Singapore December petrochemical exports grow 39.8%; NODX up 6.1%

17 January 2014 06:19 Source:ICIS News

SINGAPORE (ICIS)--Singapore’s petrochemical exports in December surged by 39.8% year on year to Singapore dollar (S$) 1.47bn ($1.16bn) in December last year, amid a rebound in overall non-oil domestic exports (NODX), official data showed on Friday.

Overall exports from the city-state’s chemicals cluster, which includes petrochemicals and pharmaceuticals, were up by 6.1% year on year at S$3.85bn in December, according to data by International Enterprise (IE) Singapore.

Singapore’s exports of bitumen increased by 8% year on year to 196,837 tonnes in December, while overseas shipments of naphtha rose by 34% at 36,127 tonnes.

Its exports of benzene slumped by 67% to 5,778 tonnes, while shipments of toluene more than doubled to 36,776 tonnes in December last year compared with the 17,045 tonnes in December 2012.

Paraxylene (PX) exports slipped by 0.31% year on year to 68,070 tonnes, while shipments of orthoxylene (OX) were down by 2.61% to 9,353 tonnes.

On a year-on-year basis, Singapore’s NODX rose by 6% in December to S$14bn, compared with an 8.9% decrease in November, boosted by the increase in non-electronic NODX which outweighed the decline in electronic NODX.

Overall non-electronic NODX, which includes the chemicals cluster, was up by 10.6% at S$9.7bn in December last year, while electronic NODX slipped by 3.1% to S$4.28bn.

Singapore’s exports to six of its top 10 markets increased, with China, the US and Taiwan as top contributors.

Singapore’s exports to China rose by 45% year on year in December, following the 16% expansion in the previous month, with exports of petrochemicals surging by 88.7%.

($1 = S$1.27)

By Nurluqman Suratman