Singapore’s exports advance again, with cautions
Confidence in Singapore’s non-oil domestic exports (NODX) has received a lift with figures exceeding expectations, though commentators remain wary that the sector could still see a downturn in the coming year.
NODX, both electronic and non-electronic, increased 34.5% on last year, beating September’s 23% gain and more importantly, the 26% previously forecast for this period. Demand for integrated circuits and telecommunications equipment led the electronics side of things, while exports of other manufactured goods like specialized machinery, ships/boats and pharmaceuticals also performed well.
There had been some talk recently of the possibility of a ‘technical recession’ in Singapore. While Singapore’s strong economy and these export figures go some way to easing these fears, many still expect a moderation in 2011 due to continuing poor conditions in most of the developed world, and more frugal economic policies by governments in other parts of Asia.
source & article: Channel NewsAsia
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