Foreign trade of transport equipment rockets 48.7%

Thanks to higher offshore trade.

According to SingStat, after seasonal adjustment, foreign sales of the general wholesale trade, transport equipment and telecommunications & computers sectors recorded growth of 11.9%, 10.8% and 6.1% respectively over first quarter 2012. Sales growth was also experienced in the chemicals & chemical products (3.9%), ship  chandlers & bunkering (1.3%) and petroleum & petroleum products (0.5%) sectors.

Here's more from SingStat:

After adjusting for price changes, the increases in foreign sales of the three sectors were higher, ranging from 6.3% to 8.7%. On the other hand, the household equipment & furniture, food, beverages & tobacco and electronic components sectors posted declines of between 1.3% and 3.3% in foreign sales over the previous quarter.

On a year-on-year basis, major wholesale trade sectors except household equipment & furniture experienced growth in foreign sales. Foreign wholesale trade of the transport equipment sector experienced a large increase of 48.7%, due to higher offshore trade compared to the same period a year ago. Other sectors that reported double-digit growth in foreign wholesale trade included telecommunications & computers (22.8%), industrial & construction machinery (15.2%) and petroleum & petroleum products (12.0%).

The chemicals and chemical products, food, beverages & tobacco, timber, paints & construction materials, ship chandlers & bunkering, general wholesale trade and electronic components sectors also registered increases of between 2.1% and 9.3% in foreign sales. In contrast, the household equipment & furniture sector experienced a decline of 6.5% in foreign sales over second quarter 2011.