Singapore’s non-oil exports up 7% in July

Enterprise Singapore, Singapore’s trade promotion agency, said Singapore’s non-oil exports (NODX) grew 7% slower year-on-year in July, following an 8.5% increase in June, the 20th consecutive month of growth.

The report states that exports of electronic and non-electronic products also increased. At the same time, exports to the top 10 markets increased mainly due to exports to the 27 EU member states, Malaysia and Taiwan

However, NODX to China, Japan, Hong Kong and Thailand declined.

Compared with the previous month, the NODX rose at a slower, seasonally adjusted rate of 1.4% in July, following a 3.2% gain in June as non-electronic goods rose.

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