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Singapore's July exports rise 15.7% y/y, stronger than forecast

Tan KW
Publish date: Fri, 16 Aug 2024, 11:27 PM
Tan KW
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SINGAPORE: Singapore's non-oil domestic exports rose 15.7% in July from a year earlier, data on Friday showed, with both electronics and non-electronics exports growing.

The rise compared with a Reuters poll forecast of a 1.2% increase in shipments, and followed a downwardly revised 8.8% contraction in June.

On a month-on-month seasonally adjusted basis, non-oil domestic exports increased by 12.2% in July, stronger than the forecast rise of 2.2% in the Reuters poll.

Enterprise Singapore said non-oil exports to Malaysia rose 49.1% from a year earlier, led by exports of computer peripherals, integrated circuits and non-monetary gold.

Shipments to the United States rose 28.9% and those to China were up an annual 21.1%, while non-oil exports to the European Union, Japan, Hong Kong and South Korea fell.

 - Reuters

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