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