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SINGAPORE'S exports grew at a faster pace in February on the back of higher electronics and pharmaceutical shipments.
Non-oil domestic exports (Nodx) rose 23 per cent from a year earlier, after a revised 21 per cent gain in January, beating median forecast of an 18 per cent rise by seven economists surveyed by Bloomberg News.
From a month ago, Nodx rose a seasonally adjusted 14.8 per cent from January, when they fell a revised 9.1 per cent, said trade promotion agency IE Singapore said in a statement on Wednesday.
Electronics shipments climbed 26 per cent in February from a year earlier to S$4.38 billion, after a 22.7 per cent gain the previous month.
Non-electronics shipments, which include petrochemicals and pharmaceuticals, jumped 22 per cent. Pharmaceutical shipments rebounded from a decline in January, rising 29 per cent last month.
Exports to all of the top 10 Nodx markets increased, in particular, to Europe, Indonesia and Taiwan, rising by 35 per cent, 71 per cent and 124 per cent respectively.
The government now expects gross domestic product to grow by 4.5 per cent to 6.5 per cent in 2010, up from a previous forecast of 3 per cent to 5 per cent.
Non-oil domestic exports (Nodx) rose 23 per cent from a year earlier, after a revised 21 per cent gain in January, beating median forecast of an 18 per cent rise by seven economists surveyed by Bloomberg News.
From a month ago, Nodx rose a seasonally adjusted 14.8 per cent from January, when they fell a revised 9.1 per cent, said trade promotion agency IE Singapore said in a statement on Wednesday.
Electronics shipments climbed 26 per cent in February from a year earlier to S$4.38 billion, after a 22.7 per cent gain the previous month.
Non-electronics shipments, which include petrochemicals and pharmaceuticals, jumped 22 per cent. Pharmaceutical shipments rebounded from a decline in January, rising 29 per cent last month.
Exports to all of the top 10 Nodx markets increased, in particular, to Europe, Indonesia and Taiwan, rising by 35 per cent, 71 per cent and 124 per cent respectively.
The government now expects gross domestic product to grow by 4.5 per cent to 6.5 per cent in 2010, up from a previous forecast of 3 per cent to 5 per cent.
