Singapore’s July exports rise 15.7% y/y, stronger than forecast By Reuters

SINGAPORE (Reuters) – Singapore’s non-oil domestic exports rose 15.7% in July from a year earlier, data on Friday showed, with both electronics and non-electronics exports growing.

The rise compared with a Reuters poll forecast of a 1.2% increase in shipments, and followed a downwardly revised 8.8% contraction in June.

On a month-on-month seasonally adjusted basis, non-oil domestic exports increased by 12.2% in July, stronger than the forecast rise of 2.2% in the Reuters poll.

Enterprise Singapore said non-oil exports to Malaysia rose 49.1% from a year earlier, led by exports of computer peripherals, integrated circuits and non-monetary gold.

Shipments to the United States rose 28.9% and those to China were up an annual 21.1%, while non-oil exports to the European Union, Japan, Hong Kong and South Korea fell.