Spike in Singapore's non-oil exports in May

Singapore's non-oil domestic exports (Nodx) expanded by 15.5 percent in May. This extended the 11.8 percent growth last month.

The growth was spurred by an increase in non-electronic exports which outweighed the decline in electronics, according to a press release by Enterprise Singapore on Monday, June 18.

Photo: Connected to India
Photo: Connected to India

Non-oil exports to the country's top markets grew as a whole in May 2018, led bythe European Union, the United States and Japan.

At the same time, non-oil re-exports also increased by 4 percent in May, after a 8.2 percent increase in April. Both electronic and non-electronic re-exports rose. 

Total trade rose over the year in May, supported by both export and import growth.

CtoI News Desk
CtoI News Desk – CtoI

Singapore-headquartered online media company targeting Indian Diaspora across Singapore, US, UK and Dubai. Connected to India covers developments around Indians abroad, informing, engaging and entertaining its audiences.