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Singapore’s exports maintain growth trend in August

Singapore’s non-oil domestic export (NODX) went up 5 percent annually, driven by non-electronics, according to the International Enterprise (IE) Singapore on September 17.
Singapore’s exports maintain growth trend in August ảnh 1Illustrative image (Source: Internet)  
Hanoi (VNA) – Singapore’snon-oil domestic export (NODX) went up 5 percent annually, driven bynon-electronics, according to the International Enterprise (IE) Singapore on September17.

NODX rose by 0.4 percent inAugust to 11.35 billion USD after jumping 3.6 percent in July.

Export of non-electronicsincreased by 7.8 percent, lower than an 18.6 percent growth in July. Meanwhile,pharmaceuticals maintained an impressive growth of 33.4 percent, followed byfood and measurement tools.

Electronics exports fell by 1.5percent compared to 5.8 percent in the previous month, mostly transistors, componentsof personal computers and integrated circuits.

Singapore’s exports to top 10markets grew moderately, mostly the US, Europe and Indonesia. Shipments toChina, the largest single market of Singapore, dropped 17.8 percentyear-on-year, mostly due to falling electronics exports.

Non-oil re-export (NORX) jumpedby 14.1 percent in August thanks to growth in both electronics andnon-electronics, pushing up Singapore’s total trade by 13.3 percent during themonth.

Thanks to positive signals sinceearly this year, policymakers revised up non-oil exports to 2.5-3 percent,higher than the initial estimate of 1-3 percent.-VNA
VNA
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