S’pore's non-oil domestic exports grows by 5.0pc on year in August

SINGAPORE, Sept 17 (Xinhua): Enterprise Singapore, a government agency that champions enterprise development, announced on Monday that Singapore's non-oil domestic exports (NODX) grew by five per cent year on year in August.

Singapore saw the NODX rose by 0.8 per cent in June and by a revised 11 per cent in July.

The agency attributes the accelerated NODX growth in August to the growth in non-electronic exports which outweighed the decrease in electronics.

On a month-on-month seasonally adjusted basis, Singapore's NODX rose by 0.4 per cent in August to 15.6 billion Singapore dollars (about 11.35 billion US dollars), following the revised 3.6 per cent increase for July, due to the growth in electronic NODX which outweighed the decrease in non-electronics.

According to the agency, Singapore's electronic NODX declined by 1.5 per cent year on year in August, following the revised 5.8 per cent decrease in July. Non-electronic NODX increased 7.8 per cent year on year, after the revised 18.6 per cent increase in the previous month.

Meanwhile, Singapore's non-oil re-exports (NORX) grew 14.1 per cent in August, after the 8.4 per cent growth in July, due to the higher shipment of both electronic and non-electronic NORX.

Singapore's oil domestic exports grew by 36 per cent year on year in August, following the 38.2 per cent expansion in the preceding month. Higher sales to Malaysia, Indonesia and Hong Kong contributed the most to the year-on-year increase.