Merchandise exports remain vibrant in first two months

27 Mar '08

3 min read

Comparing the three-month period ending February 2008 with the preceding three months on a seasonally adjusted basis, the value of total exports of goods rose by 3.6%. Within this total, the value of re-exports increased by 3.9%, whereas the value of domestic exports went down by 4.7%. Meanwhile, the value of imports of goods increased by 1.9%.

Analysis by country/territory:
For the first two months of 2008 as a whole, distinct year-on-year increases were registered in the values of total exports to most major destinations, in particular India (+133.6%), the mainland of China (the Mainland) (+17.6%), Singapore (+16.9%), Germany (+13.9%) and the Netherlands (+11.3%).

Over the same period of comparison, significant year-on-year increases were registered in the values of imports from most major suppliers, in particular India (+64.8%), Thailand (+32.2%), the Philippines (+25.8%), Malaysia (+24.6%) and Taiwan (+15.8%).

Comparing February 2008 with February 2007, exports to Asia as a whole grew by 15.0%. In this region, strong increases were registered in the values of total exports to some major destinations, in particular India (+126.6%), Vietnam (+42.1%), Thailand (+30.2%), Indonesia (+20.1%), Malaysia (+18.2%) and the Mainland (+14.0%).

Apart from destinations in Asia, increases were also registered in the values of total exports to other major destinations, in particular Germany (+10.1%).

Concurrently, distinct decreases were registered in the values of total exports to some major destinations, in particular the United Kingdom (-15.9%) and the USA (-12.5%).

Over the same period of comparison, significant increases were registered in the values of imports from all major suppliers, in particular India (+75.8%), Thailand (+32.1%), Malaysia (+20.7%), the USA (+14.4%) and Singapore (+14.2%).

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