RI-Singapore trade rose 7.8% in Q2

RI-Singapore trade rose 7.8% in Q2

SINGAPORE: Singapore said on Thursday bilateral trade with Indonesia in the second quarter rose 7.8 percent from the previous quarter to reach S$8.3 billion (US$4.97 billion).

The city-state only began making bilateral trade data with Jakarta public in 2004, ending a decades-old policy of keeping secret its trade figures with its Southeast Asian neighbor. Data with Indonesia is now regularly disseminated, one of International Enterprise Singapore's few individual country releases.

In the April-June quarter, Singapore exported S$3.8 billion worth of goods while imports from Indonesia amounted to S$4.5 billion. In the first quarter, imports and exports between the two countries totaled S$7.7 billion.

Among the major imports from Indonesia were refined petroleum products, data processing machine parts and electrical circuits.

Key exports from Singapore included petroleum products, telecommunications equipment and electrical generators, the government agency for international trade data said.

Singapore began issuing Indonesian trade figures for 2003 in January 2004 after complaints from Jakarta of discrepancies in the data exchanged between ministers, saying such secrecy could lead to smuggling and illegal exports of its natural resources.

Trade data between the two countries had been kept secret for 28 years, following a deal in 1976 between then-Singapore Prime Minister Lee Kuan Yew and Indonesian strongman Soeharto.

Indonesia is among Singapore's top 10 trading partners. -- AP