Singapore’s non-oil domestic export value in February expanded 21.5 percent from the same period last year and marked the fourth consecutive monthly increase since November, 2016.
Singapore (VNA) – Singapore’s non-oildomestic export value in February expanded 21.5 percent from the same periodlast year and marked the fourth consecutive monthly increase since November,2016.
According to the International Enterprise (IE), it wasthe highest level in the past five years, driven by the strong export growth ofboth electronic and non-electronic commodities.
The IE data showed the export of electroniccommodities posted a year-on-year increase of 17.2 percent, contributed by the26.9 percent increase of disc products, integrated circuits (25.8 percent) andcomponents of personal computers (19.7 percent).
The export of non-electronic products also increased23.3 percent, following a 9.8 percent increase in January, fueled by increasesin the export of specialised machines (111.8 percent), golden jewelry (104.3percent) and petrochemical products (45.3 percent).
Singapore’s exports to 10 leading markets increased ata positive rate. Of which, the shipment to China upped 65.1 percent, followedby Taiwan (54 percent) and the European Union (28.7 percent).
The country’s economy is expected to grow at 2.3percent in 2017, higher than the forecast level of 1.5 percent.
The city-state’s economic growth is projected to standat 2.6 percent in the first quarter of 2017.-VNA
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Singapore port. (Source: AFP/VNA)
