Singapore's exports grew by 8.2 percent after two months of decline


Singapore's non-oil domestic exports (NODX) grew by 8.2 per cent year-on-year in June, led by stronger electronic and non-electronic shipment.

Non-electronic shipments rose 9.3%, after an 8.6% decline in the previous month.

Non-oil re-exports rose by 9.1 percent in June 2017, due to the increase in both electronic and non-electronic re-exports. ICs, disk media products and capacitors led the growth in June, rising by 20.7%, 2.9% and 10.5%, respectively.

The decline in electronic exports outweighed the increase in non-electronic ones, according to the IE Singapore report published on Monday, July 17, 2017.

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Total trade increased by 7.5% year-over-year in June for an eighth consecutive month of growth for both exports and imports, the report said. Total exports grew by 7.9%, following the 12.4% expansion in May whilst total imports increased by 6.9% in after the 18.4% growth in the preceding month. The level of total trade reached S$79.6 billion in June, lower than the previous month's achievement of S$82.7 billion.

Exports to China, South Korea, Japan, Malaysia and Hong Kong grew, outweighing the decline in exports to the US, Taiwan, EU, Thailand and Indonesia. Non-monetary gold, specialized machinery and petrochemicals contributed the most in this category, the report said.

The largest contributor to the increase was China, Singapore's top export market, at 48.9 percent.