Non-oil domestic exports grow 15.7% in July after June decline

Growth in electronics and non-electronics drove the increase.

Non-oil domestic exports (NODX) expanded by 15.7% YoY in July, reversing from the 8.8% YoY decline in June.

Enterprise Singapore (EnterpriseSG) attributed the expansion to the growth of the electronics and non-electronics NODX.

In July, electronic and non-electronic NODX grew by 16.5% YoY and 15.5% YoY, respectively.

Disk media products and other computer peripherals and ICs, which grew 113.2% and 13.5%, respectively, contributed the most to the improvement in electronic NODX.

Meanwhile,  non-monetary gold (260.3%), petrochemicals (28.1%) and specialised machinery (8.0%) drove the growth in non-electronic NODX.

July also saw an expansion in NODX to Singapore’s top markets, with the US (28.9% YoY), Malaysia (49.1% YoY) and China (21.1% YoY) being the major contributors to the increase.

Like NODX, oil domestic exports and non-oil re-exports (NORX) expanded in July, climbing 21.1% YoY and 11.8% YoY, respectively.

With an expansion in total exports (13.4% YoY) and total imports (14.0YoY), total trade improved by 13.7% YoY in July.