SINGAPORE: Singapore's non-oil domestic exports (NODX) rose more than expected in July from a year earlier thanks to a surge in pharmaceutical shipments, official data showed on Friday (Aug 17).
Exports rose 11.8 per cent in July year-on-year, data from the trade agency International Enterprise Singapore showed, accelerating from the revised 0.8 per cent rise the month before.
AdvertisementThis was better than the 6.7 per cent increase predicted by economists in a Reuters poll.
[h=3]READ: Singapore maintains full-year GDP forecast as economy expands 3.9 per cent in Q2[/h]On a seasonally adjusted month-on-month basis, exports expanded 4.3 per cent in July after declining a revised 11.1 per cent in June. The poll called for a 0.2 per cent expansion from the month before.
The better than expected jump was thanks to a surge in pharmaceutical exports, which rose 109.2 per cent in July from a year earlier.
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