S'pore trade rose in 2003

S'pore trade rose in 2003

SINGAPORE: Singapore's key non-oil exports rose 15.1 percent
in 2003, recovering from the effects of the regional Severe Acute
Respiratory Syndrome (SARS) outbreak and the Iraq war, the
government said on Friday.

Increased exports of electronic components and non-electronic
goods like pharmaceuticals and petrochemicals drove December
exports up 30.7 percent to S$10.46 billion (US$6.17 billion), the
government's International Enterprise Singapore said in a
statement.

It said it expects non-oil exports to grow by 10 percent to 12
percent in 2004, buoyed by improvements in the overall global
economy.

Singapore's total trade in 2003 reached S$474 billion ($280
billion), up 9.6 percent from 2002, making it one of the world's
top trading countries.

The overall performance was strong, despite the economy's
contraction in the second quarter following the outbreak of SARS,
which dealt a serious blow to the services industry and claimed
33 lives.--AP