Web Radio
May 28, 2008
» Midday Update
Min: °C Max: °C
» Weather Details
February 18, 2008 Monday
Home > Latest News > Money
Feb 18, 2008
Singapore's Jan exports jump 8.4%
SINGAPORE - SINGAPORE'S non-oil exports rose more than expected in January, climbing a seasonally adjusted 8.4 per cent from December and snapping four straight months of declines, data showed on Monday.

January's rise compared with market expectations for a 4.5 per cent rise on a pick-up in drug exports, and followed a revised 1.8 per cent decline in December.

Non-oil exports in January rose 2.8 per cent from a year earlier to $15.4 billion, on higher petrochemical and disk drive shipments, trade agency International Enterprise Singapore said in a statement.

That compared with a 4.5 percent fall in December, and with a median forecast in a Reuters poll for an annual drop of 5.7 per cent.

The Singapore economy is heavily dependent on trade, and non-oil domestic exports were worth three quarters of the city-state's gross domestic product last year.

January's electronics shipments fell by 1.8 per cent from a year ago while drugs exports fell 26.7 per cent in the same period. Petrochemicals climbed 7.3 per cent.

Singapore's non-oil domestic exports, which comprise of goods that have been manufactured in Singapore or undergone further processing, include mobile phones, medical instruments, and active ingredients for some blockbuster drugs. -- REUTERS

Best viewed at 1152x864 resolution with IE 6.0 or FireFox 2.0 and above
Copyright © 2007 Singapore Press Holdings Ltd. Co. Regn No. 198402868E | Privacy Statement | Terms & Conditions