Slower increase seen in re-exports

PUBLISHED : Saturday, 12 November, 1994, 12:00am
UPDATED : Saturday, 12 November, 1994, 12:00am

RE-EXPORTS rose 17 per cent to $88.1 billion in September over the same month last year, according to the Census and Statistics Department.

This compares with August's 20 per cent year-on-year increase.

The latest figure took the re-exports growth for the first nine months to 15 per cent or $687.8 billion, slightly up from the 14 per cent year-on-year increase for the first eight months.

Domestic exports in September grew 2.2 per cent to $19.9 billion over the same period last year.

In the first nine months, they dropped 2.1 per cent to $160.2 billion.

'This reflected partly the continued restructural shift to re-exports and partly the week demand in overseas markets,' said a statement issued by the Government.

Imports increased 23 per cent to $113.6 billion in September, taking the year-on-year growth in the first nine months to 15 per cent to $905.9 billion.

In September, re-exports to China posted the biggest improvement with a 29 per cent surge. It is followed by Japan-bound re-exports which leaped 23 per cent.

The growth rate was 21 per cent for re-exports to Canada, 18 per cent for those to Singapore, and 15 per cent for those to the United States.

However, re-exports to Germany fell three per cent and to South Korea eight per cent.

In domestic exports, only four out of the 10 main destinations registered an increase. Malaysia rose 19 per cent, Singapore 13 per cent, Japan 11 per cent and the US eight per cent.

Domestic exports to Canada recorded the greatest drop of 23.5 per cent, followed by those to Britain which plummeted 13.8 per cent.

Imports from all the 10 main suppliers showed increases.

Britain took the lead, soaring 38 per cent.