SINGAPORE — Singapore’s non-oil domestic exports rose 10.7 percent in August from the same month a year earlier, data on Tuesday showed, buoyed by a rise in both electronic and nonelectronic products.
Last month’s growth compared with a Reuters poll forecast of a 15-percent increase and extended the 15.7-percent expansion in July.
On a month-on-month seasonally adjusted basis, non-oil domestic exports fell 4.7 percent in August, following July’s 12.2-percent expansion. That was steeper than analysts’ predictions for a 3.3-percent decline.
Among key markets, the largest contributors to the export growth were Hong Kong, China and Malaysia, while shipments to Europe and Japan declined, Enterprise Singapore said.
Exports to Hong Kong expanded by 70.6 percent from a year earlier due to integrated circuits, nonmonetary gold and disk media products.
Exports to China grew 18.8 percent due to specialized machinery, nonmonetary gold and pharmaceuticals.
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