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Singapore’s non oil exports beat expectations

Non-oil domestic exports (NODX) in Singapore in October jumped by 20.9 percent year-on-year, according to the International Enterprise (IE) Singapore on November 17.
Singapore’s non oil exports beat expectations ảnh 1Non-oil domestic exports (NODX) in Singapore in October jumped by 20.9 percent year-on-year (Photo: AFP)

Singapore (VNA) – Non-oil domestic exports (NODX)in Singapore in October jumped by 20.9 percent year-on-year, according to theInternational Enterprise (IE) Singapore on November 17.

The increase, which was due to an increase in electronic export,which contributes one fifth of Singapore’s GDP, reversed the 1.1 percentdip in September.

Electronic shipments expanded 4.5 percent in October, followingan 8.0 percent decline in September. The increase was largely due to disk mediaproducts, ICs and computer parts, which grew by 28.8 percent, 15.4 percent and13.0 percent, respectively.

Meanwhile, non-electronic shipments in Singapore rose 28.5 percent, following a1.9 percent increase in the previous month. Non-monetary gold andpharmaceuticals increased by 591.5 percent and 25.1 percent respectively,contributing most to the increase.

Exports to all of Singapore's top 10 markets, except Taiwan,Hong Kong (China) and Indonesia, grew last month, IE Singapore said. Shipmentsto China, Singapore's biggest export market, expanded by 53.3 percent, whileexports to the European Union and Malaysia also increased by 26.1 percent and22 percent, respectively.

According to IE, non-oil re-exports of theSoutheast Asian country declined by 0.9 percent year-on-year, following a 0.6percent growth in September due to the lower shipment of non-electronicre-exports.-VNA

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