Singapore
16 Apr 2021 08:30AM (Updated: 16 Apr 2021 08:30AM )
SINGAPORE: Singapore's non-oil domestic exports (NODX) grew at a faster pace of 12.1 per cent in March from a year ago, up from the 4.2 per cent growth in February.
Growth was mainly due to non-electronics, which rose by 9.4 per cent year-on-year, according to official data released by Enterprise Singapore (ESG) on Friday (Apr 16).
This increase was driven mainly by petrochemicals (51.4 per cent) in March, after declining amid a global downcycle in 2019. It was followed by an increase in specialised machinery (35.1 per cent), which was in line with robust global semiconductor demand, said ESG.
Pharmaceutical exports, which are typically volatile, rose by 25.5 per cent in March, after a decline in February.
In the electronics sector, NODX expanded by 24.4 per cent last month from its low base a year ago, and up from the 7.3 per cent growth in February. The growth was mainly due to the increase in exports of integrated circuits, amid strong global semiconductor demand and media reports of chip shortages.
On a month-on-month seasonally adjusted basis, Singapore's NODX rose 1.2 per cent last month to reach S$16.9 billion, higher than February’s S$16.7 billion.
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Singapore's exports rise at faster pace of 12.1% in March
A trailer leaves the container port at Tanjong Pagar terminal in Singapore on Nov 4, 2020. (AFP/Roslan RAHMAN)16 Apr 2021 08:30AM (Updated: 16 Apr 2021 08:30AM )
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SINGAPORE: Singapore's non-oil domestic exports (NODX) grew at a faster pace of 12.1 per cent in March from a year ago, up from the 4.2 per cent growth in February.
Growth was mainly due to non-electronics, which rose by 9.4 per cent year-on-year, according to official data released by Enterprise Singapore (ESG) on Friday (Apr 16).
This increase was driven mainly by petrochemicals (51.4 per cent) in March, after declining amid a global downcycle in 2019. It was followed by an increase in specialised machinery (35.1 per cent), which was in line with robust global semiconductor demand, said ESG.
Pharmaceutical exports, which are typically volatile, rose by 25.5 per cent in March, after a decline in February.
In the electronics sector, NODX expanded by 24.4 per cent last month from its low base a year ago, and up from the 7.3 per cent growth in February. The growth was mainly due to the increase in exports of integrated circuits, amid strong global semiconductor demand and media reports of chip shortages.
On a month-on-month seasonally adjusted basis, Singapore's NODX rose 1.2 per cent last month to reach S$16.9 billion, higher than February’s S$16.7 billion.
Continue reading...