SINGAPORE has announced its October trade figures, seeing non-oil domestic exports (NODX) decline 16 per cent in October 2011, following the 4.6 per cent contraction in previous months due to declines in both electronic and non-electronic goods.

    Compared to the same period of last year, only non-oil exports to China and Indonesia experienced growth, and export contracted to other countries.

    Such exports to China grew 3.1 per cent year on year in October and to Indonesia, they increased 5.3 per cent. But to the US, they were down 51 per cent; to the EU, down 31 per cent; to Hong Kong, off 31 per cent; to Taiwan, down 19 per cent; to Malaysia, down six per cent; to Japan, down 6.3 per cent; to South Korea, down four per cent and to Thailand, they fell 1.1 per cent in October.

     Non oil domestic exports to emerging markets increased 38 per cent in October, reversing a 13 per cent decline in the previous month. The increase was attributed to the growth in Cambodia, Laos, Burma and Vietnam.

    Non-oil re-exports expanded 5.5 per cent in October year on year, following the 0.8 per cent growth in previous month due to non-electronics outweighing the decrease in electronic re-exports.

    Total trade increased five per cent in October year on year after the 6.9 per cent growth in previous month. Total exports increased two per cent in October, following the 7.1 per cent expansion in September. Also, total imports increased 8.6 per cent in October 2011, following the 6.8 per cent rise in September.

(source:http://www.shippingonline.cn/news)