China October 2016 export growth

India’s October Exports YoY Growth Highest Among Asian Countries

India’s export growth accelerated 9.6% year-on-year in October which was boosted by strong exports in the jewelry and engineering sectors. In September, Indian exports grew 4.6%.

In China, the world’s second largest economy, exports dropped 7.3% year-on-year in October, which is an improvement from September’s 10% year-on-year decline according to official data.

Taiwan exports surged 9.4% in October year-on-year buoyed by strong demand for semiconductor products according to government statistics. Taiwan’s October export data includes shipments deferred from September when exports contracted 1.8% due to a reduced number of working days to typhoons.

Philippine exports rose 5.1% in September year-on-year after 17 straight months of year-on-year decline.

Indonesia, South-East Asia’s largest economy, saw exports grow by 4.6% in October year-on-year mainly supported by rising prices of coal, rubber and crude palm oil. Indonesia’s exports dropped 0.59% in September year-on-year.

Singapore’s exports slumped 12% in October after registering a 5% drop the previous month according to figures released by International Enterprise (IE) Singapore. Non-oil domestic exports (NODX) were impacted by falling electronic exports (which fell 6%) and non-electronic exports (which dropped 14.6%).

Japan’s exports dropped in 6.9% year-on-year September marking the 12th straight month of export declines.

In Malaysia, September exports dropped 3% year-on-year according to the Statistics Department. In August, exports had increased 1.5%.

South Korea also saw falling exports in October, declining 3.2% year-on-year. This was however an improvement from the 5.9% decline in September. South Korea posted its first year-on-year export growth in 20 months in August when exports grew 2.6% year-on-year that month.

Export growth (year-on-year), October and September 2016, selected Asian countries - LD Investments

At 9.6%, India posted the highest year-on-year export growth rate in October among Asian countries.

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