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Singapore's exports soar 17pc in August driven by exports of electronics
SINGAPORE's non-oil domestic exports (NODX) soared by 17 per cent year on year in August, marking the fourth straight month of growth. The growth was attributed to an increase in both electronic and non-electronic exports.
On a month-on-month seasonally adjusted basis, exports were up 4.5 per cent, reversing July's 3.3 per cent decline, according to statistics released by trade agency International Enterprise (IE) Singapore, reported Channel NewsAsia.
Electronic shipments were up for the 10th consecutive month on a year-on-year basis, rising 21.7 per cent in August, following 15.3 per cent growth in July. Non-electronic shipments were also up by 15 per cent, following a 4.4 per cent increase the previous month.
Export volumes to all of Singapore's top 10 markets, apart from Taiwan, registered an increase in August, IE Singapore said. Shipments to China, Singapore's number one export market, expanded by 43.2 per cent, while exports to Hong Kong and South Korea soared by 41.9 per cent and 62 per cent respectively.
On a month-on-month seasonally adjusted basis, exports were up 4.5 per cent, reversing July's 3.3 per cent decline, according to statistics released by trade agency International Enterprise (IE) Singapore, reported Channel NewsAsia.
Electronic shipments were up for the 10th consecutive month on a year-on-year basis, rising 21.7 per cent in August, following 15.3 per cent growth in July. Non-electronic shipments were also up by 15 per cent, following a 4.4 per cent increase the previous month.
Export volumes to all of Singapore's top 10 markets, apart from Taiwan, registered an increase in August, IE Singapore said. Shipments to China, Singapore's number one export market, expanded by 43.2 per cent, while exports to Hong Kong and South Korea soared by 41.9 per cent and 62 per cent respectively.
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