SINGAPORE: Exports of primary chemicals to China surged by 71.7% year on year in November, while shipments of other specialty chemicals to the United States were up by 62.4%, according to International Enterprise (IE) Singapore. Exports of goods made in Singapore rose 9.1% in November compared with a year earlier, after a revised 20.5% rise in October, trade promotion agency International Enterprise Singapore said Monday. UOB economist Francis Tan said: “Today’s release of November NODX have started to show signs of the base effects kicking in, where the strong on-year growth rates in exports for most of the past year may not be sustained as we go into 2018”. “What is encouraging is that non-electronics exports is sustaining export growth”, Ling added. This was due to the strong year-ago figures as well as the end of the latest mobile phone replacement cycle with the launch of new models by industry giants such as Apple and Samsung Electronics. Singapore’s exports data exclude oil and re-exports to better reflect economic activity on the island. The total trade of Singapore grew 10.1 percent year on year in November. Exports to the European Union rose 10.1% from a year ago after rising 26.1% in October. Shipments of semiconductors grew 9.6% while exports of disk media products rose 21.6%. Non-electronic NODX grew 10.6 percent year on year, lower than the revised 28.1 percent growth in the previous month. The three markets saw oil domestic exports from Singapore increase 99.5 percent, 38.3 percent and 65.4 percent, respectively. “We already knew that (stellar electronics export numbers) won’t last forever”, Ling told Reuters. With the exception of a “one-off blip” in September when it contracted a revised 8.0 percent, exports of electronics have grown at a double-digit pace for most months of this year. Economists note that the trend of slowing electronics exports has been evident in the past few months and is expected to continue. Exports were supported by electronics and non-electronics. Newburgh Gazette http://newburghgazette.com/2017/12/19/singapore-non-oil-exports-in-nov-eases-from-octs-stellar/
Electricity price may rise as Discos seek extra fuel cost charge
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