Oil domestic exports declined by 10% month-on-month in February 2011

This is in contrast to a rise of 28% in the previous month while oil domestic exports expanded by 22 per cent on a y-o-y basis.

According to International Enterprise Singapore, on a y-o-y basis, oil domestic exports expanded after the preceding month's 40% increase.

The y-o-y growth of oil domestic exports was mainly due to sales to Hong Kong (+52%), Malaysia (+24%) and Indonesia (+35%).

In volume terms, oil domestic exports decreased by 1.0% in February 2011, compared to the 24% expansion in the previous month.

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