SINGAPORE: Singapore’s non-oil exports accelerated in September thanks to a surge in pharmaceutical sales, official data showed on Wednesday (Oct 17).
Exports rose 8.3 per cent year-on-year, the sixth straight month of growth, data from trade agency Enterprise Singapore showed. It was up from 5 per cent the month before but slower than the 10.9 per cent growth in July.
AdvertisementPharmaceutical exports grew 67.5 per cent, up from 33.4 per cent in August but down from the sizzling 109.2 per cent growth in July.
Shipments of non-electronic products rose 11.9 per cent, following a 7.8 per cent increase in the previous month. Electronic exports declined 0.9 per cent, following a 1.5 per cent decrease in August.
Overall, exports to six of Singapore’s top 10 markets fell in September. Shipments to China, Singapore’s biggest export market, fell the most by 17.8 per cent. Exports to the US, EU, Thailand and Indonesia rose, with growth led by Thailand with a 46.8 per cent increase.
On a seasonally adjusted month-on-month basis, exports fell by 4.3 per cent in September after a 0.4 per cent increase in August.
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