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Financial News: Singapore Exports Increase In August

Singapore Exports Increase In August

09/16/2022 - 06:11:00 (RTTNews)

(RTTNews) - Singapore's non-oil domestic exports increased at a faster pace in August amid a growth in shipments of non-electronic goods, data from Enterprise Singapore showed on Friday.

Non-oil domestic exports increased 11.4 percent year-on-year in August, following a 7.0 percent rise in July. Economists had expected an 8.3 percent growth.

Electronic exports declined 4.5 percent, while non-electronic NODX grew 16.9 percent.

On a monthly basis, NODX declined 3.9 percent in August, after a 1.4 percent growth in the previous month. Economists had forecast a 3.8 percent fall.

Exports to the top ten markets grew in August, though exports to China, Taiwan and Hong Kong declined. The largest contributors to the export growth were the US, EU27 and Indonesia.

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