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Singapore’s exports up in Jan for third month

by ChemOrbis Editorial Team - content@chemorbis.com
  • 20/02/2017 (12:33)
According to the data released by International Enterprise (IE) Singapore, Singapore’s exports posted a further increase by 8.6% in January year-on-year following an increase of 9.1% recorded in December due to a rise in shipments to China, Taiwan and South Korea. This was also the third consecutive month the country’s exports posted a growth. The recent growth beat the expectations of an increase 7% in exports in January.

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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