SINGAPORE: Singapore’s non-oil domestic exports (NODX) grew 16.1 per cent in June from a year ago, bolstered by shipments of pharmaceuticals, specialised machinery and electronics.
The surprise jump is a reversal of May's revised 4.6 per cent decline, and higher than the 6.2 per cent increase forecast by economists in a Reuters poll.
Advertisement Advertisement It comes off a low base in June last year, when NODX declined by 17 per cent.
On a month-on-month seasonally adjusted basis, NODX rose by 0.5 per cent in June after a revised 4.6 per cent fall in May.
[h=3]READ: Singapore’s economic situation remains dire, with recovery likely to be ‘slow and uneven’: MAS[/h][h=3]READ: Commentary: How Singapore can thrive in a world past peak trade, with more regional blocs[/h] Advertisement Advertisement On a year-on-year basis, electronic shipments rose by 22.2 per cent in June, boosted by demand for integrated circuits, disk media products and telecommunications equipment.
Non-electronic exports, which expanded 14.5 per cent, were helped by shipments of non-monetary gold, specalised machinery and pharmaceuticals.
Exports to the top 10 markets grew across the board in June, with the exception of Hong Kong, Indoenesia and Thailand.
Shipments to Japan rose the most by 94.7 per cent, followed by South Korea at 85.6 per cent and Taiwan at 32.6 per cent.
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