Trading Partners Demand Rose Singapore Exports by 29.5%
Trading Partners Demand Rose Singapore Exports by 29.5%

On strong demand from major trading partners such as the United States, China and Hong Kong, Singapore exports have been rose by 29.4 percent in April from the previous. Exports to the US soared up 46 percent, from a 12 percent rise in March, while shipments to China rose 30 percent and to Hong Kong 41 percent.

According to trade promotion body International Enterprise (IE) Singapore, the growth in non-oil domestic exports (NODX) strike expectations and was faster than the 25.4 percent growth in March. Electronics and non-electronics goods export has powered the growth. Even though, shipments to all of Singapore's top 10 export markets have gone up.

This year it is expected that Singapore's trade-sensitive economy to expand by up to 9.0 percent, after constricting 2.0 percent in 2009 as world economies recover from last year's recession.

Increase in the exports of electronics was 19 per cent in April to S$5.06 billion, after a 39.4 per cent gain the previous month. Non-electronics shipments, which include petrochemicals and pharmaceuticals, hiked 35.5 per cent. Pharmaceutical shipments fell 27.8 per cent after dropping 5.9 per cent in March.

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