Illustrative image (Source: straitstimes)Singapore (VNA) – Non-oildomestic exports of Singapore in March surged 16.5 percent year-on-year andincreased in five months in a row.
According to statistics of the InternationalEnterprise of Singapore (IE) on April 17, electronic and non-electronic exportssaw strong growth. Specifically, electronic export rose 5.2 percent, asshipment of computer parts grew 33.9 percent, consumer electronics and IC up29.9 percent and 7.8 percent.
Meanwhile, non-electronic exportsincreased 20.8 percent, topped by steel and aluminium (4,695.7 percent), specialisedmachinery and structural parts made of iron (70.1 percent) and petrochemicals(42.8 percent).
Shipment to all of Singapore’s top 10 marketsalso rose in March. Exports to China, the largest market, went up 45.5 percentcompared to the same period last year.
Non-oil re-exports of Singapore lastmonth rose 9.4 percent due to the growth of electronics (10.2 percent) andnon-electronics (8.6 percent).
Despite strong number, Singaporeananalysts still warned of a decrease in exports due to unstable global trade inthe coming months as well as huge inventory of China from start of the yearuntil 2018.
As a result, the Monetary Authority ofSingapore recently announced to hold its monetary policy steady and warned ofrisks to the global outlook, even with recent improvements in exports and broadeconomic growth momentum in the first three months. -VNA
