Non-oil domestic exports climbed 18.2% from a year earlier, after a revised 28.5% gain in June, the trade promotion agency said in a statement in Singapore today. The median forecast of nine economists surveyed by Bloomberg News was for an increase of 20.1%.
Singapore’s July non-oil exports likely +20% on-year vs +28.7% June; pace easing on faltering global economy, according to median estimate of six analysts in Dow Jones poll.
On month, July exports likely to decline 2.7% in seasonally adjusted terms, after having shrunk 0.1% in both May and June.
“We are looking for a third consecutive month of sequential contraction in July with one difference — a deeper contraction compared to May and June,” Standard Chartered Bank economist Alvin Liew writes in note.
Liew adds, weaker exports “performance should be driven by a marked moderation in pharmaceutical exports. That said, the volatile pharmaceutical could still swing either way”.
Data due tomorrow 1:00 p.m.
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Singapore’s exports grew in the double digits for the sixth straight month in May but at a slower pace than the month before, and the growth in shipments could slow further in coming months as the island state begins to feel the full impact of the European sovereign debt troubles.
Non-oil domestic exports grew 24.4% from a year earlier, data released Thursday showed, below the 26.8% median forecast of seven economists polled by Dow Jones Newswires and slower than the upwardly revised 30% expansion in April.
Non-oil domestic exports climbed 24.4% from a year earlier, after a revised 30% gain in April, the trade promotion agency said in a statement in Singapore today. The median forecast of 10 economists surveyed by Bloomberg News was for an increase of 25.7%.
Non-oil domestic exports climbed 24.4% from a year earlier, after a revised 30% gain in April, the trade promotion agency said in a statement in Singapore today. The median forecast of 10 economists surveyed by Bloomberg News was for an increase of 25.7%.
Gross domestic product grew an annualized 38.6% from the previous three months in the first quarter, compared with an April estimate of 32.1%, the trade ministry said in a statement today. That was more than the median estimate for a 33.4% increase in a Bloomberg News survey of eight economists.
Singapore’s economy expanded at a faster pace than initially estimated last quarter as rising global demand boosted manufacturing and the opening of the island’s first casino spurred tourism.
Gross domestic product grew an annualized 38.6% from the previous three months in the first quarter, compared with an April estimate of 32.1%, the trade ministry said in a statement today. That was more than the median estimate for a 33.4% increase in a Bloomberg News survey of eight economists.
Singapore non-oil domestic exports rose slightly faster-than-expected in April. Exports +29.4% on-year vs +26.2% tipped in Dow Jones poll.
Also up from +25.4% in March. Large gains made across both electronics, non-electronics sector though petrochemicals make up large part of non-electronics gain, offsetting weakness in pharmaceuticals.
Data show continuation of hot demand seen in 1Q at beginning of 2Q as well.
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The island state’s non-oil domestic exports jumped 26.6% in March from a year earlier, faster a 23.3% rise in February, the trade promotion agency International Enterprise Singapore said Friday. That beat a 20.1% rise tipped by a survey of eight economists by Dow Jones Newswires.
Defense Minister Dragan Šutanovac said that Serbia could potentially earn up to USD 1bn from its weapons export industry in 2009, daily Blic reports. “We have the best placement of products with traditionally friendly countries from the Near East and North Africa. With these countries we have long-term experience in training and schooling their soldiers at our military academy, so we are also exporting knowledge,†Šutanovac said.
Royal Dutch Shell Plc said it produced the first ethylene cargoes from a new cracker at its petrochemicals complex in Singapore, where the company operates its largest oil refinery, according to Bloomberg.
Shell produced “on-specification ethylene” from the cracker on March 22, it said today in an e-mailed statement. A butadiene extraction unit will open “over the next few months.”
The facility can “process various types of feedstock, ranging from liquefied petroleum gas to heavy liquid hydrocarbon such as hydrowax,” the statement said.
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Singapore’s key exports continued to grow in February from a year earlier, helped by a strong bounce in the pharmaceuticals and electronics sectors and adding to the case for modest policy tightening next month, government data showed today, reported Dow Jones Newswires.
Non-oil domestic exports rose 23.4% in February from a year earlier, the trade promotion agency International Enterprise Singapore said in a statement.
Singapore’s non-oil exports grew 23.4% on-year in February and 14.8% on-month seasonally adjusted, due to strong recovery of mainstay electronics and pharmaceuticals exports, up 26.4% and 29% on-year respectively.
The data is much stronger than average forecast in Dow Jones’ poll of 18.4% on-year and 1.3% on-month overall rise.
Numbers show Singapore firmly on recovery path after exports slumped in early 2009, which may prompt MAS to let SGD strengthen at monetary police meeting in April.
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Singapore’s non-oil exports expected to continue growing at double-digit pace on-year in February, due mostly to base effect, broader recovery in global trade.
Economists polled by Dow Jones Newswires expect exports +18.4% on-year from +20.8% in January; +1.3% on-month vs 8.9% contraction.
Non-oil domestic exports rose 20.8% from a year earlier, after a 26.1% gain in December, the trade promotion agency said in a statement today. The median forecast of 11 economists surveyed by Bloomberg was for an increase of 35%.
Singapore’s exports surged the most since 2005 in December as electronics shipments ended an almost three-year slump and pharmaceutical sales increased.
