Singapore’s petrochemical exports in February grew 19.1% year on year to S$1.28bn, backed by robust shipments to China, official data showed on Monday.
Exports of petrochemicals to China more than doubled, with shipments of pharmaceuticals registering more than an eightfold increase, making the northeast Asian country the top contributor for Singapore’s non-oil domestic exports, the International Exchange (IE) Singapore said.
Shipments of primary chemicals to China also grew 25.7% in February, it added.
By volume, Singapore’s overall exports of ethylene increased nearly fivefold to 34,465 tonnes.
The city-state’s overall non-oil domestic exports (NODX) in February increased 9.1% year on year to S$14.5bn, representing a rebound from a 3.3% decline recorded in January, IE Singapore data showed.
The US and Taiwan were ranked as second and third top contributors to Singapore’s NODX in February.
Singapore’s exports to the US were up 22.3% in February, while to Taiwan, shipments increased 10.2%, the data showed.