Illustrative image (Photo: Straitstimes) Hanoi (VNA) – Singapore’s key exports grew in December for the 13th month in a row, wrapping up 2021 as the best year for shipments since 2010, according to statistics the Government agency Enterprise Singapore (ESG) released on January 17.
Non-oil domestic exports (NODX) rose by 18.4 percent year-on-year last month, with electronics export rising 13.6 percent year on year and non-electronics exports 19.9 percent.
Maybank calculated the full year NODX growth at 12.1 percent compared to 4.3 percent in 2020, and the fastest annual gain since 2010.
"NODX to the top markets as a whole rose in December 2021, though NODX to the United States and South Korea declined,” ESG said. The largest contributors to the rise were China, Indonesia and the 27 member states of the European Union.
Shipments to emerging markets grew by 38.8 percent in December, building on the 54.1 percent growth in November. This growth was mainly due to Cambodia, Laos, Myanmar and Vietnam, the Middle East and Latin America.
However, analysts forecast that Singapore’s export growth could slow down this year./.
