Singapore's annual exports swell in Jan

SINGAPORE, Feb 15 (Reuters): Singapore's annual exports in January surged despite another decline in electronics shipments, thanks to a welcome jump in sales of petrochemical products.

Non-oil domestic exports (NDOX) rose 13.0 per cent in January year-on-year, data from the trade agency International Enterprise Singapore showed on Thursday, accelerating from the 3.1 per cent rise the month before.

That bettered the 9.0 per cent increase predicted by economists in a Reuters poll.

Shipments of petrochemical products - a sector known to be volatile - was up 11.3 per cent in January after contracting 0.6 per cent the month before.

"Examining the breakdown confirms our view on Singapore that growth is broadening," Continuum Economics analyst Jeff Ng said.

The global exports boom has benefited Singapore and other trade-dependent Asian economies in the past year, particularly for makers of electronics products and components such as semiconductors.