The Financial Express
Swasti Lankabangla Swasti Lankabangla

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

| Updated: September 01, 2018 13:36:41

File Photo (Collected) File Photo (Collected)

The non-oil domestic exports (NODX) of Singapore grew 11.8 per cent year on year in July, Enterprise Singapore, a government agency that champions enterprise development, announced on Friday.

The city state saw the NODX rise by 15.5 per cent in May and by a revised 0.8 per cent in June.

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

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

Singapore's electronic NODX declined 3.8 per cent year on year in July, following the revised 8.6 per cent decrease in June, said the egency.

Non-electronic NODX of the Asian country increased 18.8 per cent year on year, after the revised 4.5 per cent increase in the previous month.

Meanwhile, its non-oil re-exports (NORX) grew 8.5 per cent in July, after the 5.2 per cent 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 per cent year on year in July, following the 34.7 per cent expansion in the preceding month. In volume terms, oil domestic exports decreased by 1.7 per cent in July, compared to the recalculated 5.4 percent decline in June.

The total trade of Singapore increased 17.6 per cent year on year in July. Total exports grew 13.7 per cent year on year in the month, and total imports rose by 22.1 per cent year on year.

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