SINGAPORE – Singapore’s non-oil domestic exports (NODX) in June rose 20.7 per cent, moderating from the 38.4 per cent expansion in May, as electronics shipments continued to surge.
It also missed economists’ forecast of 28.7 per cent year-on-year growth in a Bloomberg poll.
Electronics shipments surged 105.1 per cent, up from 94.8 per cent growth in May, on robust demand for artificial intelligence, data from Enterprise Singapore (EnterpriseSG) on July 17 showed.
Within the electronics segment, disk media products led the expansion, jumping 170.9 per cent, while integrated circuits rose 115.4 per cent and PCs grew 95.8 per cent.
Non-electronics shipments fell 2.9 per cent, reversing the previous month’s 17.7 per cent growth. Non-monetary gold led the drop, falling 49 per cent, while food preparations declined 38.6 per cent and petrochemicals were down 27.9 per cent.
NODX to all the top 10 markets rose in June, led by Taiwan, the United States and South Korea.
In June, NODX to Taiwan expanded 123.3 per cent, NODX to the US rose 36.7 per cent and those to South Korea rose 62.9 per cent.
