Exports up for third month on electronics sales

Increased overseas sales of electronic goods have pushed Singapore's exports up, which for January is now on its third month of sustained growth.

Following a 26.1% gain in December, non-oil domestic exports went up 20.8% from a year earlier, as reported by Bloomberg.

The increase countered a steady decline in pharmaceutical shipments, which dropped 29.7% during the same period.

This all the more sustains Singapore's recovery from its worst recession since 1965.

The government intends to reach as much as S$12 billion ($8.6 billion) in fixed-asset investments this year in industries including manufacturing to spur growth and employment.

Exports are expected to rise further, with Royal Dutch Shell Plc opening a monoethylene glycol plant in Singapore last quarter, while Renewable Energy Corp., a Norwegian maker of solar-power components, is scheduled to start production in Singapore this year.

View full report in Bloomberg.