Singapore Feb exports strongest in 5 years
SINGAPORE, March 17 (Reuters) Singapore February non oil domestic exports (NODX) grew at their fastest pace in five years, fuelled by demand for the city canada goose clearance sale state tech products cheap Canada Goose and a sharp jump in shipments to Canada Goose Online China.
The stronger than expected data adds to optimism of a manufacturing revival for Asian exporters as concerns over trade protectionism and geopolitical risks rise.
Exports in February rose 21.5 percent from Canada Goose Outlet a year earlier, data from trade agency International Enterprise Singapore (IE Singapore) showed on canada goose replica Friday.
Non oil domestic exports rose a seasonally canadagoose-coats adjusted 1.4 percent in February from January.
A Reuters poll had forecast February exports would canada goose coats expand 12.8 percent from canada goose outlet store locations a year earlier and canadian goose jacket grow buy canada goose jacket 0.8 percent from January.
strong numbers were being helped by a favourable base effect because of Lunar canada goose New Year, canada goose outlet toronto factory said ANZ economist Weiwen Ng. The holiday fell in February last year Canada Goose sale but was celebrated in January this year.
Singapore electronics sector canada goose black friday sale was also a factor driving exports, helping canada goose deals the trade dependent economy avert a Canada Goose Parka recession in the fourth buy canada goose jacket cheap quarter. Integrated cheap Canada Goose Jackets circuits made up a bulk of the export growth of the electronics sector.
bright 2018 canada goose outlet spot effectively is still electronic NODX which Canada Goose Jackets continued to expand in double digits Ng said.
Petrochemical exports also jumped 45.3 percent from a year earlier.
However, despite canada goose coats on sale the stellar numbers, Ng said he remains cautiously optimistic in his outlook which is dependent on trade recovery in the region and the reflationary fiscal Canada Goose Coats On Sale policy under the Trump administration
February annual rise was the biggest since February 2012, when exports jumped 32.2 percent, canada goose clearance Thomson Reuters data showed. Exports in January rose 8.6 percent, buoyed by strong shipments to China as well as Taiwan and South Korea.
In February, shipments to China soared 65.1 percent from a year earlier, while exports to Europe canada goose store rebounded, up 28.7 percent, and exports to the United States grew 1.4 percent.
Singapore economy has been on the ropes in the last two years Canada Goose online with growth slipping to a seven year low of 1.8 percent in 2016, as exports slowed amid sluggish global growth.
Most analysts now expect Singapore central bank to keep monetary policy unchanged at its next policy review in April, after exports and factory activity picked up momentum from late last year. (Additional reporting by Masayuki Kitano; Editing by Jacqueline Wong).