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Singapore's external trade up 8.6 pct in January year-on-year

Xinhua, February 17, 2017 Adjust font size:

Singapore's non-oil domestic exports (NODX), a key gauge of the export performance of the small and highly open economy, rose 8.6 percent in January on a year-on-year basis, said the International Enterprise (IE) Singapore on Friday.

The growth was due to the increase in both electronic and non-electronic NODX, said IE Singapore in a press release.

On a month-on-month seasonally adjusted basis, NODX expanded by 5.0 percent in January, compared to the 2.4 percent contraction in the previous month, due to the rise in both electronic and non-electronic NODX.

The trade promotion agency said that electronic NODX expanded by 6.1 percent in January year-on-year, following the 5.7 percent increase in the previous month. ICs, parts of PCs and disk drives contributed the most to the growth posting 31.6 percent, 11.0 percent and 2.9 percent increase respectively.

Non-electronic NODX gained 9.9 percent in January year-on-year, following the 10.7 percent increase in the previous month. The expansion in non-electronic NODX was led by specialized machinery, petrochemicals and non-monetary gold.

On a year-on-year basis, NODX to the majority of the top 10 markets rose in January 2017, except the EU and Malaysia.

Non-oil Re-exports (NORX) rose by 1.5 percent in January year-on-year, following the 3.8 percent rise in the previous month, due to a growth in both electronic and non-electronic NORX.

Electronic NORX increased by 2.3 percent in January 2017, due to increase in ICs, capacitors and other computer peripherals. While non-electronic NORX increased slightly by 0.6 percent, after 2.7 percent growth in the previous month. Endit