Singapore's non-oil domestic exports surge by 11.8 pct on year in July

Source: Xinhua | 2018-08-20

Enterprise Singapore, a government agency that champions enterprise development, announced on Friday that Singapore's non-oil domestic exports (NODX) grew 11.8 percent year on year in July.

Singapore saw the NODX rise by 15.5 percent in May and by a revised 0.8 percent in June.

The agency attributes the accelerated NODX growth in July to the growth in non-electronic exports which outweighed the decrease in electronics.

On a month-on-month seasonally adjusted basis, Singapore's NODX rose by 4.3 percent in July to 15.7 billion Singapore dollars (about 11.42 billion U.S. dollars), following the revised 11.1 percent decrease for June, due to the growth in both non-electronic and electronic NODX.

According to the agency, Singapore's electronic NODX declined 3.8 percent year on year in July, following the revised 8.6 percent decrease in June. Non-electronic NODX increased 18.8 percent year on year, after the revised 4.5 percent increase in the previous month.

Meanwhile, Singapore's non-oil re-exports (NORX) grew 8.5 percent in July, after the 5.2 percent growth in June, due to the growth in non-electronic NORX which outweighed the decline in electronics.

Singapore's oil domestic exports grew by 38.2 percent year on year in July, following the 34.7 percent expansion in the preceding month. In volume terms, oil domestic exports decreased by 1.7 percent in July, compared to the recalculated 5.4 percent decline in June.