Singapore’s non-oil domestic exports grew by 1.6 percent

Singapore’s non-oil domestic exports grew by 1.6 percent year-on-year, thanks in part to better than expected performance of the electronic sectors, the trade promotion agency International Enterprise (IE) Singapore said on Friday.

The rise came after a contraction of 16.2 percent in October on a 51 percent plunge in its exports to the United States.

The electronic exports in November grew by a marginal 0.1 percent, after the 31 percent decline in October, largely due to increases in exports of integrated circuits, telecommunications equipment and others.

Non-electronic exports expanded by 2.4 percent in November, in contrast to the 6.9 percent fall in the previous month.

The pharmaceuticals sector saw a growth of 22 percent in its exports.

Exports to Japan, as well as China, including China’s Hong Kong and Taiwan, grew, though the non-oil domestic exports to the European Union, the United States and Thailand continued to decline.

On a month-on-month seasonally-adjusted basis, the non-oil domestic exports grew by 5.9 percent in November.

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