Posted on 19 May 2010
Singapore exports up 29.4pct in April
Singapore said Monday that exports rose 29.4 percent in April from the previous year on strong demand from major trading partners such as the United States, China and Hong Kong.
The rise in non-oil domestic exports (NODX) beat expectations and was faster than the 25.4 percent growth in March, trade promotion body International Enterprise (IE) Singapore said.
Exports of electronics and non-electronics goods powered the growth, it said in a statement.
Although shipments to all of Singapore's top 10 export markets climbed, "the largest contributors to the increase were the US, China and Hong Kong," IE Singapore said.
Singapore said exports rose 29.4 percent in April from the previous year on strong demand from major trading partners.
Exports to the US soared 46 percent, up from a 12 percent rise in March, while shipments to China rose 30 percent and to Hong Kong 41 percent.
On a month-on-month seasonally adjusted basis, NODX rose 2.1 percent in April.
Total trade expanded by 31 percent to nearly 77 billion Singapore dollars (55 billion US).
Singapore's trade-sensitive economy is expected to expand by up to 9.0 percent this year after contracting 2.0 percent in 2009 as world economies recover from last year's downturn.
The city-state's main exports include computer chips, petrochemicals and pharmaceuticals.
