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19 January 2010

Singapore posted 26% increase December shipments

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Singapore's exports jumped in December for the second straight month as global demand for the city-state's electronics surged, the Associated Press reported.

Exports excluding oil rose 26.1 percent from a year earlier to 13.2 billion Singapore dollars ($9.5 billion), according to Trade and Industry Ministry figures released Monday.

The ministry said sales abroad rose a seasonally adjusted 1.7 percent from November.

Electronics - which account for 40 percent of non-oil exports - rebounded strongly, rising 25.2 percent from a year earlier after falling 6.1 percent in November.

Singapore's economic recovery slowed last quarter as gross domestic product fell by an annualised seasonally adjusted 6.8 percent.

The government expects the economy to grow up to 5 percent this year after contracting by 2.1 percent last year.


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