Singapore's non-oil domestic exports grows 1.1pc in June

Published: July 17, 2018 11:22:21 | Updated: July 20, 2018 12:37:38

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Singapore's non-oil domestic exports (NODX) grew 1.1 percent year on year in June, Enterprise Singapore, a government agency that champions enterprise development, announced on Tuesday.

The city state saw the NODX decline by a revised 3.1 per cent year on year in March, but rebound by 11.8 per cent in April and rose by 15.5 per cent in May.

The government agency attributes the growth in June to the growth in non-electronic exports which outweighed the decrease in electronics.

On a month-on-month seasonally adjusted basis, the country’s NODX decreased 10.8 per cent in June to 15.1 billion Singapore dollars (about 11.09 billion US dollars), following the previous month's 10.3 per cent growth, due to the decline in both non-electronic and electronic NODX.

According to the agency, Singapore's electronic NODX declined 7.9 per cent year on year in June, following the 7.8 per cent decrease in May.

Non-electronic NODX increased 4.6 per cent year on year, after the 26.2 per cent increase in the previous month.

Meanwhile, Singapore's non-oil re-exports (NORX) grew 5.1 per cent in June, after the four per cent growth in May, due to the growth in non-electronic NORX which outweighed the decline in electronics.

Singapore's oil domestic exports grew by 35.3 per cent year on year in June, following the 17.8 per cent expansion in the preceding month.

Higher sales to Indonesia, Malaysia and Australia contributed the most to the year-on-year increase. Singapore's oil domestic exports to the three markets increased 104.5 per cent, 61.1 per cent and 75.3 per cent year on year, respectively.

In volume terms, oil domestic exports decreased by 4.1 per cent in June, compared to the recalculated 11 per cent decline in May, reports Xinhua.

The total trade of the country increased 10.3 per cent year on year in June. Total exports grew 8.1 per cent year on year in the month, and total imports rose by 12.8 per cent year on year.

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