Singapore imports from India up 48% in H1, 2011

SINGAPORE: Singapore's imports from India increased by 48 per cent to 9.34 billion Singapore dollars (SGD) in the first half of this year from SGD 6.3 billion a year ago, according to data released by state trading agency International Enterprise today.

The city state's January-June exports to India also increased by 13 per cent to SGD 9.75 billion from SGD 8.6 billion a year ago.

Comparatively, Singapore's total exports increased by 10 per cent to SGD 253 billion in the first half of this year from SGD 230 billion a year ago.

January-June imports into the city state grew by 9.25 per cent to SGD 226.35 billion from SGD 207.18 billion in the same period last year.

However, Singapore's exports witnessed a slowdown in June due to the ongoing economic woes in the United States and Europe.

Exports to the US decreased by 6.3 per cent year-on-year, while to Europe, they increased by a marginal 1.3 per cent during June.

Meanwhile, Singapore's exports to China grew by 12 per cent year-on-year and shipments to South Korea by 7.1 per cent in June, reflecting the strength of the regional economy.