Singapore's exports grow by 23pc in September

SINGAPORE has announced that its non-oil domestic exports fell 4.5 per cent in September, compared to the previous month's gain of 9.8 per cent.

But compared to the previous year, the city state's non-oil domestic exports grew 23 per cent in September 2010, following a 31 per cent rise the previous month, on the back of strong electronic and non-electronic domestic exports.

On a year-on-year basis, domestic exports to Singapore's top 10 export markets increased. Domestic exports to the European Union were up 29 per cent, 32 per cent to the US and by 29 per cent to Hong Kong.

On a month-to-month basis, non-oil re-exports (NORX) decreased four per cent in September compared to a 2.9 per cent rise the month before.

On a year-on-year basis, non-oil re-exports grew by 16 per cent in September, after a 23 per cent increase the previous month, due to both electronic and non-electronic NORX.

On a month-to-month basis, non-oil imports of intermediate goods (NORI) decreased by S$645 million from S$5,206 million the previous month, to reach S$4,561 million (US$3.5 billion) in September.
(Source:www.schednet.com)