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Singapore February Exports Strongest In 5 Years, Beat Forecasts
March 17th, 2017 | 09:12 AM | 1511 views
SINGAPORE
Singapore exports expanded for the fourth consecutive month in February, exceeding economists’ expectations, helped by shipments of electronics and non-electronics.
On a year-on-year basis, non-oil domestic exports (Nodx) gained 21.5 per cent last month, expanding from the 8.6 per cent growth in January, trade agency International Enterprise (IE) Singapore said on Friday (March 17). Economists in a Reuters poll had expected February exports to increase by 12.8 per cent.
Shipments of electronics expanded by 17.2 per cent last month, following the 6.1 per cent rise in the previous month, helped by integrated circuits, disk media products and personal computer parts.
Non-electronic Nodx grew by 23.3 per cent in February, following the 9.8 per cent increase in the previous month. Petrochemicals, specialised machinery and non-monetary gold contributed to most of the growth.
Nodx to all of the top 10 markets increased, led by China, the European Union and Taiwan.
Shipments to China, Singapore’s largest export destination, expanded by 65.1 per cent last month, extending the previous month’s growth of 36.9 per cent, led by non-monetary gold, petrochemicals and specialised machinery.
Source:
courtesy of TODAY
by ANGELA TENG
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