SINGAPORE: Singapore’s non-oil domestic exports grew 16.8% in January from the same month a year earlier, official data showed on Friday, aided by growth in both electronic and non-electronic products.
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Last month’s increase compared with a Reuters poll forecast of 5.4% growth, reversing the 1.5% contraction seen in December.
In a press release, Entreprise Singapore said the expansion came from “the low base a year ago”.
Non-oil domestic exports amounted to S$13.3 billion ($9.88 billion) in January last year, compared to S$15.5 billion last month.
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The expansion continued the growth seen in November, when non-oil domestic exports grew 1% after falling for 13 consecutive months.
On a month-on-month seasonally adjusted basis, non-oil domestic exports grew 2.3% in January, after declining 2.8% in December.
Non-oil exports to the top markets as a whole rose in January.
The biggest expansion was in shipments to China, which grew 101.3% from a year earlier with higher exports of specialised machinery, non-monetary gold and measuring instruments.
-Reuters
-TheStar