A container vessel anchored out past the Pasir Panjang terminal is seen behind cable car cabins in Singapore on Jun 17, 2022. (File photo: AFP/Roslan Rahman)
Singapore’s non-oil domestic exports (NODX) grew at a slower pace of 9.0 per cent year-on-year in June after the revised 12.0 per cent growth in May, expanding for the 19th straight month.
Both electronics and non-electronics exports increased, and exports to the top 10 markets as a whole rose in June, mainly due to the United States, Malaysia and Indonesia, according to official data released by Enterprise Singapore (ESG) on Monday (Jul 18).
NODX to the 27 European Union countries, Hong Kong, South Korea and Thailand declined.
On a month-on-month seasonally adjusted basis, NODX increased by 3.7 per cent in June, following the previous month’s revised 2.8 per cent growth. Both electronics and non-electronics grew.
On a seasonally adjusted basis, the level of NODX reached S$17.7 billion in June, higher than the previous month’s S$17.1 billion, as well as levels a year ago.
NODX rose over the year, mainly due to shipments of non-electronics. Electronics also grew.
On a year-on-year basis, electronic NODX rose by 4.1 per cent in June, following the 12.9 per cent growth in the previous month.
Integrated circuits, parts of integrated circuits and disk drives rose by 26.0 per cent, 86.1 per cent and 18.0 per cent respectively, contributing the most to the growth in electronic NODX.
Non-electronic NODX increased by 10.6 per cent in June on a year-on-year basis, following the revised 11.7 per cent rise the previous month.
Food preparations, petrochemicals and measuring instruments contributed the most to the growth in non-electronic NODX, increasing by 48.0 per cent, 21.1 per cent and 30.9 per cent respectively.
CNA
