Non-oil domestic exports up 10.7% in August

The expansion, however, was slower than July's growth.

Non-oil domestic exports (NODX) rose 10.7% YoY in August, a slower expansion than the 15.7% growth in July. 

Enterprise Singapore (EnterpriseSG) attributed the increase to expansions in electronics and non-electronics NODX. 

In August, non-electronic NODX  grew by 3.7% YoY. 

Specialised machinery, non-monetary gold and food preparations, which expanded by 43.7%, 26.8% and 20.9%, respectively, contributed the most to the increase in non-electronic NODX.

Electronic NODX also improved, increasing by 35.1% YoY, driven by ICs, disk media products and PCs, which grew by 58.4%, 7.6% and 668.0%, respectively.

August also saw an expansion in NODX to Singapore’s top markets, with Hong Kong (70.6% YoY), China (18.8% YoY) and Malaysia (28.6% YoY) being the major contributors to the increase.

Like NODX, non-oil re-exports (NORX) saw a slower expansion of 4.6% YoY. 

On the other hand, oil domestic exports declined by 5.8% YoY amidst lower oil prices.

With total exports rising by 4.4% YoY and total imports expanding by 1,8%, total trade grew by 3.1% in August.