Re-exports' surge highlights higher services output

[SINGAPORE] Singapore's non-oil re-exports (NORX) surged to a record high of $22.3 billion in October, rising 26.7 per cent year-on-year - the fastest expansion since January 2010, and its seventh consecutive month of growth.

Economists BT spoke to say this is proof of a recovering regional and global trading environment, which augurs well for trade-related services here, and, in turn, Q4 2013 GDP growth.

Said ANZ economist Daniel Wilson: "NORX is important to note for two main reasons. More broadly, it's a way of feeling the pulse of what's happening globally. Because Singapore is a key export base and hub, it gives us a sense of what's happening to the world's biggest economies.