Friday, August 10, 2012

Singapore total trade sees slower rise of 2.9% on-year in Q2

SINGAPORE: Singapore's total external trade rose by 2.9 percent on-year in the second quarter of 2012, slower than the previous quarter's rise of 7.5 percent.

Total trade yielded S$252 billion in the second quarter of the year.

The rise is attributed to increases in both oil and non-oil trade.

On a quarter-on quarter basis, total external trade fell by 3.1 percent in the second quarter, compared to an expansion of 5.3 percent in the previous quarter.

Singapore's non-oil domestic exports (NODX) grew by 3.9 percent on-year in Q2, after a 6.1 percent rise in the previous quarter.

The rise is due to higher shipments of both electronic and non-electronic NODX.

Growth in electronic domestic grew by 2.2 percent in Q2, following a 3.5 percent expansion in the previous quarter.

Exports of telecommunications equipment surged 69 percent while those of disk drives and integrated circuits grew 26 percent and 7.7 percent respectively.

Non-electronic NODX increased by 4.8 percent in the second quarter, after rising 7.4 percent in the previous quarter.

Printed matter exports recorded a 67 percent growth, followed by specialized machinery exports which climbed 24 percent and pharmaceuticals exports which grew 6.1 percent.

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