SINGAPORE: Singapore’s non-oil domestic exports (NODX) rose by 15.7 per cent in July, reversing the revised 8.8 per cent contraction in June.
Both electronics and non-electronics grew, according to data released by Enterprise Singapore (EnterpriseSG) on Friday (Aug 16).
The expansion is the first since January, when NODX rose by 16.7 per cent.
On a year-on-year basis, electronic product exports expanded by 16.5 per cent in July, reversing the 9.5 per cent decline in the previous month.
Disk media products, other computer peripherals and integrated circuits contributed the most to the growth in electronic NODX, with the former expanding by 113.2 per cent and the latter by 13.5 per cent.
EnterpriseSG did not provide an exact year-on-year growth figure for other computer peripherals, citing “a low base effect from the same period last year” as its reason for not doing so.
Non-electronic products expanded by 15.5 per cent last month on a year-on-year basis, following the 8.6 per cent contraction in June.
Non-monetary gold, petrochemicals and specialised machinery contributed the most to the rise, expanding by 260.3 per cent, 28.1 per cent and 8 per cent respectively.
NODX to the top markets as a whole grew in July, although NODX to the European Union, Japan, Hong Kong and South Korea declined, said EnterpriseSG.
The largest contributors to the rise in NODX were the United States, Malaysia and China, with exports to these markets expanding by 28.9 per cent, 49.1 per cent and 21.1 per cent respectively.
On a year-on-year basis, total trade expanded by 13.7 per cent in July, following the growth of 1.2 per cent seen in June.
Both exports and imports rose, by 13.4 per cent and 14 per cent respectively.