Exports to the top markets as a whole rose in September, said ESG, although exports to the EU 27, Malaysia and Thailand declined.

The largest contributors to this increase were China, the United States and South Korea.

Exports to China grew by 38.9 per cent due to non-monetary gold, petrochemicals and integrated circuits.

Shipments to the US expanded by 22.2 per cent in September due to pharmaceuticals, specialised machinery and miscellaneous manufactured articles.

Exports to South Korea rose by 61.6 per cent due to specialised machinery, integrated circuits and telecommunications equipment.

Exports to emerging markets grew by 41.4 per cent in September following the 2.7 per cent expansion in August. This growth in NODX to emerging markets was mainly due to South Asia, Cambodia, Laos, Myanmar and Vietnam, as well as the Middle East.

Singapore’s economy grew at a slower pace of 6.5 per cent year-on-year in the third quarter of 2021, according to advance estimates from the Ministry of Trade and Industry (MTI) last Thursday.

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