Oil domestic exports rose a blistering 29.5% in September

Hong Kong sales more than doubled.

On a y-o-y basis, oil domestic exports expanded by 29.5 per cent in September 2013, after the preceding month’s 6.5 per cent growth, according to newly released data from International Enterprise Singapore.

The y-o-y rise in oil domestic exports was mainly due to higher sales to Hong Kong (+125.7 per cent), Indonesia (+55.1 per cent) and Malaysia (+15.4 per cent).

In volume terms, oil domestic exports increased by 37.7 per cent in September 2013, after the 12.0 per cent expansion in the previous month. On a m-o-m SA basis, oil domestic exports grew by 17.3 per cent in September 2013, in contrast to a contraction of 2.7 per cent in the previous month

Oil domestic exports grew as non-oil domestic exports tumbled 1.2% from the same period last year.