Buoyed by the strength in electronic shipments and sales of petrochemicals, non-oil domestic exports (NODX) in Singapore rose by 8.5 per cent year-on-year in July, according to statistics released by trade agency International Enterprise (IE) Singapore, today.
July has been the third consecutive month of growth after exports grew slightly in May by 0.4 per cent and bounced back in June by 8.8 per cent.
IE Singapore said, “On a month-on-month seasonally adjusted basis, exports were down 2.5 per cent, as the decrease in non-electronic NODX outweighed the increase in electronic NODX.”
The figures for the electronic shipments showed an upward trend for the ninth consecutive month on a year-on-year basis, rising 16.3 per cent in July. The increase was largely due to ICs, parts of PCs and disk media products, which grew by 31 per cent, 9.9 per cent and 5.9 per cent respectively.
IE Singapore said, “Non-electronic shipments rose 5.2 per cent, following a 10.1 per cent increase in the previous month. Specialised machinery, petrochemicals and non-electric engines and motors increased by 82.1 per cent, 38.3 per cent and 35.3 per cent respectively, contributing most to the increase.
Exports to Singapore's top 10 markets grew last month, with the exception of the EU28 and the United States, IE Singapore said. Shipments to China, Singapore's biggest export market, expanded by 20.9 per cent.