Singapore’s exports up in Jan for third month
The country’s exports also posted a monthly growth of 5%, which exceeded the estimates of a drop of 0.7%.
Exports of electronic shipments were up by 6.1% in January from an increase of 5.7% in December. Non-electronic exports posted a further increase by 9.9% following an increase of 10.7% in December, the data showed.
Exports of petrochemicals were up by 37.1% annually in January.
The country’s exports to its top 10 markets increased with the largest contributions to it coming from Taiwan (75.3%), South Korea (51.5%) and China (36.9%). However, exports to the European Union and Malaysia remained unchanged.
In addition, the country’s overall exports in 2016 were down by 2.8% when compared to an increase of 1.5% in 2015.
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