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S'pore exports up 9.1% in February, beating forecast

Petrochem is the star performer; electronics down for 19th straight month

Published Mon, Mar 17, 2014 · 10:00 PM
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[SINGAPORE] Last month's non-oil domestic exports (NODX) were stronger than expected, but most private-sector economists don't see the surge being repeated in the coming months.

The NODX recovered from January's 3.3 per cent on-year fall to grow 9.1 per cent in February, beating the market's growth forecast of 7.1 per cent, trade promotion agency International Enterprise (IE) Singapore said yesterday.

Month on month, the NODX sprang back from a seasonally adjusted 5.0 per cent drop to surge 7.2 per cent, exceeding private-sector economists' projection of a 2.5 per cent rise.

Credit Suisse's Robert Prior-Wandesforde noted that both numbers were the strongest since February 2012.

But economists also indicated that part of last month's increase came from a low base. The Chinese New Year fell in February last year when the NODX plunged 30.6 per cent on-year, UOB economists Francis Tan and Jimmy…

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