Sin­ga­pore non-oil ex­ports re­cover

Viet Nam News - - ASIA BUSINESS -

SIN­GA­PORE — En­ter­prise Sin­ga­pore, a newly es­tab­lished gov­ern­ment agency that cham­pi­ons en­ter­prise de­vel­op­ment, an­nounced yes­ter­day that the coun­try’s non-oil do­mes­tic ex­ports (NODX) grew 11.8 per cent year on year in April.

In the pre­vi­ous two months, Sin­ga­pore wit­nessed the NODX de­cline by 6 per cent year on year and 3.2 per cent year on year re­spec­tively, af­ter a straight four months of growth. The agency at­tributes April’s re­bound to the growth in non-elec­tronic ex­ports which out­weighed the de­crease in elec­tron­ics.

On a month-on-month sea­son­ally ad­justed ba­sis, NODX hiked 6.5 per cent in April to 153 bil­lion Sin­ga­pore dol­lars (about US$11.42 bil­lion), fol­low­ing the re­cal­cu­lated 2.2 per cent de­cline for the pre­vi­ous month, due to the in­crease in both non-elec­tronic and elec­tronic NODX.

Ac­cord­ing to the agency, Sin­ga­pore’s elec­tronic NODX dropped 6.9 per cent year on year in April, fol­low­ing the re­vised 7.5 per cent de­crease in March. Non­elec­tronic NODX in­creased 19.6 per cent year on year, af­ter the re­vised 1.7 per cent de­cline in the pre­vi­ous month.

Among the top NODX mar­kets of Sin­ga­pore, the Chinese main­land, the Euro­pean Union 28 coun­tries and the United States saw the NODX grow 26.8 per cent, 45.4 per cent and 37.8 per cent year on year, re­spec­tively.

Mean­while, Sin­ga­pore’s nonoil re-ex­ports (NORX) grew 8.2 per cent in April, af­ter the 0.4 per cent de­cline in March, as the growth in non-elec­tronic re-ex­ports out­weighed the de­cline in elec­tron­ics.

Sin­ga­pore’s oil do­mes­tic ex­ports grew by 10.3 per cent year on year in April, fol­low­ing the re­vised 5.6 per cent ex­pan­sion in the pre­ced­ing month.

Higher sales to Aus­tralia, Malaysia and Indonesia con­trib­uted the most to the year-on-year in­crease. Sin­ga­pore’s oil do­mes­tic ex­ports to the three mar­kets in­creased 147 per cent, 40.6 per cent and 34.2 per cent year on year, re­spec­tively. — XIN­HUA

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