Singapore's exports up 6% in December

A worker inspects a printed circuit board on the assembly line at the Venture Corp factory in Singapore. Singapore's non-oil domestic exports were up 6 per cent in December from a year ago, due to an increase in shipments of non-electronic products.
A worker inspects a printed circuit board on the assembly line at the Venture Corp factory in Singapore. Singapore's non-oil domestic exports were up 6 per cent in December from a year ago, due to an increase in shipments of non-electronic products. The increase outweighed the decline in electronic products shipments. -- FILE PHOTO: BLOOMBERG

Singapore's non-oil domestic exports (Nodx) were up 6 per cent in December from a year ago, due to an increase in shipments of non-electronic products. The increase outweighed the decline in electronic products shipments.

The rise contrasts with an 8.9 per cent decline in the previous month, according to statistics released on Friday by trade agency IE Singapore.

Electronic Nodx contracted by 3.1 per cent following the 8.9 per cent decline in the preceding month. The decrease was largely due to a fall in shipments of parts of PCs, disk drives and telecommunications equipment.

Meanwhile, non-electronic Nodx grew by 10.6 per cent in December, reversing the 8.9 per cent decrease in the previous month. The expansion was led by petrochemicals, printed matter and structures of ships and boats.

Non-oil re-exports (Norx) rose by 14.2 per cent in December, after the 11.2 per cent increase in the previous month, due to both electronic and non-electronic Norx.

Singapore's exports to five of its top 10 trading partners rose in December compared with the same month last year. Exports to China, the United States, Taiwan, Indonesia and Malaysia rose last month, while shipments to Hong Kong, Thailand, South Korea, Japan and the European Union declined.

Exports to emerging markets increased by 15.5 per cent in December, compared with the 17.8 per cent contraction in November.

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