Financial News: Singapore Non-Oil Domestic Exports Recover Sharply In July

Singapore Non-Oil Domestic Exports Recover Sharply In July

08/16/2024 - 03:06:00 (RTTNews)

(RTTNews) - Singapore's non-oil domestic exports increased for the first time in six months in July, and at a faster-than-expected pace, data from Enterprise Singapore showed on Friday.

Non-oil domestic exports surged 15.7 percent year-over-year in July, reversing an 8.8 percent decline in the previous month.

The strong recovery in July was due to the growth in both electronics and non-electronics segments.

Non-electronic exports advanced 15.5 percent in July from last year, and electronic shipments grew by 16.5 percent. Disk media products, other computer peripherals, and ICs increased, contributing the most to the expansion of electronic NODX.

On a monthly basis, NODX rose 12.2 percent in July, in contrast to the 0.4 percent decline in the preceding month. Both electronic and non-electronic domestic exports increased.

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