Asean factory reopening raises prospects for Singapore exports growth into 2022

DEMAND from the other Asian markets helped propel Singapore trade to an 11th month of growth in October, as non-oil domestic exports (NODX) rose at their fastest pace in 4 years.

NODX rose by 17.9 per cent year on year in October, up from 12 per cent growth in the month prior, trade agency Enterprise Singapore (ESG) reported on Wednesday (Nov 17).

Shipments to mainland China - Singapore's biggest single market - were up by 35.6 per cent. Other major Asian destinations included South Korea (56.6 per cent), Taiwan (32.7 per cent) and Malaysia (29.4 per cent).