NODX beats market expectations with 4.7% expansion in June
Thanks to growth in electronic exports.
Singapore's non-oil domestic exports (NODX) grew 4.7% year-on-year in June, beating market expectations of a 2% year-on-year increase.
Data released today by IE Singapore showed that the growth was driven by the 7.6% expansion in electronics exports, which reversed the 2.5% decline in the previous month.
Exports of PCs surged 69.6%, while exports of ICs and telecommunications equipment jumped 10.8% and 79.3%, respectively.
Exports of non-electronic products grew by 3.6% in June.