Singapore's non-oil domestic exports rebound 20.9 pct in October

Source: Xinhua| 2017-11-17 10:34:03|Editor: liuxin
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SINGAPORE, Nov. 17 (Xinhua) -- Singapore's non-oil domestic exports (NODX) increased 20.9 percent year-on-year in October, rising at a much stronger pace than expected, official data showed on Friday.

International Enterprise Singapore, a government agency that promotes international trade and partners Singapore companies to go global, attributes the month's growth to the fact that both electronic and non-electronic exports grew in the month.

Singapore's electronic NODX rose 4.5 percent year-on-year in October, after the revised 8-percent decrease in September, according to the agency.

Non-electronic NODX grew 28.5 percent year-on-year, much higher than the revised 1.9-percent growth in the previous month, the agency said.

Among the top NODX markets of Singapore, China, the European Union and Malaysia were major contributors to the NODX increase in October, according to the authority. The NODX to them grew 53.3 percent, 26.1 percent and 22 percent year-on-year, respectively.

Meanwhile, the non-oil re-exports (NORX) dropped by 0.9 percent year on year in October, after a revised 0.6 percent expansion in September, due to the lower shipment of non-electronic re-exports.

Singapore's oil domestic exports grew by 29.5 percent year on year in October, following a revised 28.5 percent expansion in the preceding month. Higher sales to Malaysia, China and the Marshall Islands contributed the most to the year-on-year increase.

The three markets saw oil domestic exports from Singapore increase 56.8 percent, 67.4 percent and 89.3 percent, respectively. In volume terms, oil domestic exports increased by 12.7 percent in October, comparing to a revised 3.9 percent rise in September.

The total trade of Singapore grew 13.1 percent year on year in October, marking the 12th consecutive growth month for both exports and imports. Total exports grew by 10.4 percent year on year in the month, and total imports increased by 16.3 percent year-on-year.