Import Data News
- Singapore's non-oil export increases 6.8% in October
Date: 19-Nov-2007 Sources: (Xinhua Online)
SINGAPORE, Nov. 16 (Xinhua) -- Singapore's mainstay export, the non-oil domestic export (NODX), increased 6.8 percent in October, up from 2.2 percent growth in September, thanks to an increase in petrochemical and pharmaceutical export, the government said on Friday.
The NODX recorded 15.8 billion Singapore dollars (about 11 billion U.S. dollars) in last month, said Singapore's trade promotion agency, the International Enterprise Singapore (IE Singapore).
On a seasonally adjusted month-on-month basis, NODX fell 0.2 percent in October following a 1.5 percent decline in the previous month.
Domestic exports of electronic goods continued to drop for the ninth straight month in a row by 7.8 percent in this month.
But a sharp 19.8 percent rise in non-electronic exports, made up mainly of pharmaceuticals and petrochemicals, cushioned the decline in electronics exports.
The main export to the top 10 markets, except the European Union, the United States, Indonesia and Malaysia, rose in October. In particular, China, Thailand and South Korea made the biggest contributions to NODX growth in the month.
The NODX to China rose 10.9 percent while to Thailand rose by 10.1 percent, and to South Korea increased by 14.8 percent, said IE Singapore.
In contrast, Singapore's NODX to the EU fell 7.5 percent, mainly due to the drop in electronic exports, while Exports to the United States fell by 1.7 percent.
Singapore's total trade grew by 16 percent in October.
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