Total trade expands by 8%

Singapore’s total trade in 2011 reached S$974b.

The expansion however, according to International Enterprise (IE) Singapore, was slower compared to the 21 percent growth posted in 2010.

International Enterprise (IE) Singapore reported:

Non-oil domestic exports (NODX) grew by 2.2 per cent in 2011 after rising by 23 per cent in the previous year due to higher non-electronic exports.

Non-oil re-exports (NORX) declined marginally by 0.6 per cent in 2011, compared to the preceding year’s increase of 18 per cent, on lower shipments of electronic NORX.

Projected total trade and NODX growth in 2012 are both maintained at between 3.0 and 5.0 per cent.

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