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Financial News: Singapore NODX Climbs More Than Expected In June

Singapore NODX Climbs More Than Expected In June

07/17/2017 - 00:07:00 (RTTNews)

(RTTNews) - Singapore's non-oil domestic exports grew at a faster-than-expected pace in June, due to the increase in both electronic and non-electronic exports, data from the National Enterprise Singapore showed Monday.

NODX rose 8.2 percent year-over-year in June, faster than the 5.0 percent gain economists had expected. In May, non-oil domestic exports showed no variations.

Exports of electronic products climbed 5.4 percent annually in June, following a 28.9 percent surge in the prior month. It was forecast to rise by 8.3 percent.

The increase in electronic domestic exports was largely contributed by ICs, disk media products and capacitors.

Non-electronic NODX grew 9.3 percent yearly in June, reversing a 8.6 percent decline in the preceding month.

On a monthly basis, NODX decreased a seasonally adjusted 2.7 percent from May, when it rose by 9.4 percent.

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