SINGAPORE: Singapore’s non-oil domestic exports (NODX) grew for the seventh straight month in October, driven by a continued surge in pharmaceutical shipments.
Exports rose 8.3 per cent compared to the previous year, following an 8.1 per cent rise in September, data from trade agency Enterprise Singapore showed on Friday (Nov 16).
Advertisement On a seasonally adjusted month-on-month basis, exports rose 4.2 per cent in October, bouncing from the 4.4 per cent contraction seen in the previous month.
Shipments of non-electronic products grew 12.8 per cent year-on-year, boosted by pharmaceutical exports which chalked up an 89.7 per cent growth, extending a sharp 67.5 per cent jump in September.
Food preparations (104.9 per cent) and specialised machinery (11.7 per cent) also contributed to the growth in non-electronic exports.
Electronic exports remained in the doldrums, declining 3.5 per cent after a 1.3 per cent decrease in the previous month.
Advertisement Advertisement Overall, exports to the majority of Singapore’s top 10 markets rose in October, except China, Taiwan and Malaysia. The largest contributors to the NODX increase were the EU (37 per cent), the US (32.8 per cent) and Japan (20.7 per cent).
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