International Enterprise Singapore, a government agency that promotes international trade, said on Thursday the country's non-oil domestic exports (NODX) rose 8.5 percent year-on-year in July.
The growth was lower than a median forecast of 9.1 percent made by analysts previously and the revised growth of 8.8 percent in June. The authority attributes July's growth mainly to the continuing strong performance of electronic sector.
According to the agency, Singapore's exports of electronic products rose 16.3 percent in July for the 9th consecutive month, which was faster than the 5.4 percent growth in June. Exports of non-electronic products grew 5.2 percent, lower than the 10.1 percent growth in June.
Among the top NODX markets of Singapore, China, Thailand and South Korea were major contributors to Singapore's NODX growth in July. The NODX to them grew 20.9 percent, 55.3 percent and 45.3 percent, respectively.
Meanwhile, the non-oil re-exports (NORX) rose by 17.5 percent year-on-year in July, after the 8.3-percent expansion in June, due to the higher shipment of both electronic and non-electronic re-exports.
Singapore's oil domestic exports grew by 5.9 percent year-on-year in July, following the 5.1 percent expansion in the preceding month. Higher sales to Vietnam, Chinese mainland and 28 European Union countries contributed the most to the year-on-year increase of oil domestic exports. The three markets saw oil domestic exports from Singapore increase 38.1 percent, 23.1 percent and 16.6 percent, respectively.
In volume terms, oil domestic exports declined by 8.9 percent in July, following the 4.2-percent decline in June.
The total trade of Singapore grew 14 percent year-on-year in July, marking the 9th consecutive growth month for both exports and imports. Total exports grew by 12.4 percent in the month, and total imports increased by 15.9 percent.
The growth was lower than a median forecast of 9.1 percent made by analysts previously and the revised growth of 8.8 percent in June. The authority attributes July's growth mainly to the continuing strong performance of electronic sector.
According to the agency, Singapore's exports of electronic products rose 16.3 percent in July for the 9th consecutive month, which was faster than the 5.4 percent growth in June. Exports of non-electronic products grew 5.2 percent, lower than the 10.1 percent growth in June.
Among the top NODX markets of Singapore, China, Thailand and South Korea were major contributors to Singapore's NODX growth in July. The NODX to them grew 20.9 percent, 55.3 percent and 45.3 percent, respectively.
Meanwhile, the non-oil re-exports (NORX) rose by 17.5 percent year-on-year in July, after the 8.3-percent expansion in June, due to the higher shipment of both electronic and non-electronic re-exports.
Singapore's oil domestic exports grew by 5.9 percent year-on-year in July, following the 5.1 percent expansion in the preceding month. Higher sales to Vietnam, Chinese mainland and 28 European Union countries contributed the most to the year-on-year increase of oil domestic exports. The three markets saw oil domestic exports from Singapore increase 38.1 percent, 23.1 percent and 16.6 percent, respectively.
In volume terms, oil domestic exports declined by 8.9 percent in July, following the 4.2-percent decline in June.
The total trade of Singapore grew 14 percent year-on-year in July, marking the 9th consecutive growth month for both exports and imports. Total exports grew by 12.4 percent in the month, and total imports increased by 15.9 percent.
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