SINGAPORE (ICIS)--Singapore’s petrochemical shipments abroad in April rose by 15.1% year on year to Singapore dollar (S$) 1.45bn ($1.1bn), boosting the overall non-oil domestic exports (NODX), official data showed on Thursday.
The year-on-year growth in petrochemical exports in April was a reversal of the contractions of 1.4% and 12.9% in March and February, respectively, according to Enterprise Singapore.
Petrochemical exports to China surged by 79.3% year on year in April, while specialty chemical shipments to the US rose by 42.6%.
Overseas shipments of paraxylene (PX) rose by 39.3% to 162,440 tonnes in April, while exports of methanol were up by 18.8% at 1,362 tonnes.
Exports of petrochemical feedstock naphtha fell by 59% year on year to 42,724 tonnes in April.
Singapore’s non-electronic NODX, which includes petrochemicals and pharmaceuticals, last month rose by 19.6% year on year to S$11.6bn, a sharp reversal of the 1.7% contraction in March.
Overall NODX rose by 11.8% year on year to S$15.3bn in April following the 3.2% fall in March.
“The very strong on-year growth rates in exports for most of 2017 may not be sustained as we move towards the 2nd half of 2018," Singapore-based UOB Global Economics & Markets Research said in a note.
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($1 = S$1.34)
Picture: Ships load and unload containers at Singapore's Tanjong Pagar Container Port Terminal (Source: Xinhua/REX/Shutterstock)
|Product (in tonnes)||Apr-18||Apr-17||% Change Year on Year||% Change Month on Month|
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