, Singapore
Photo by CHUTTERSNAP on Unsplash

Export growth accelerates to 11.4% in August

In July, non-oil domestic exports grew by 7.0% YoY.

Non-oil domestic exports (NODX) grew faster in August, rising by 11.4% from 7.0% in July.

Based on Enterprise Singapore's report, non-electronic product exports which expanded by 16.9% YoY, drove the increase in NODX.

Structures of ships and boats, pharmaceuticals (+68.8%) and food preparations (+44.5%) contribute the most to the growth in non-electronic NODX.

On the flip side, electronic products declined by 4.5% YoY in August mainly due to decreases in the exports of ICs (- 6.6% YoY), disk media products (-21.3% YoY), and parts of PCs (-23.5% YoY).

In terms of markets, the largest contributors to NODX growth in August were the  US (+60.0%), the EU 27 (+57.3%) and Indonesia (+26.3%).

READ MORE: Exports growth to slow in the second half of 2022: analysts

Meanwhile,  non-oil re-exports (NORX) also posted growth in August, albeit lower compared to July (15.0% YoY vs 24.6% YoY)

Oil domestic exports likewise grew slower, rising 72.2% in August from a 96.9% uptick in July.

Overall, exports expanded by 21.8% in August.

With an expansion in exports, and a 30.9% growth in imports, total trade grew by 26.0% in August. 

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!


Italy brings its strong suits to Singapore’s fintech expo
Italian trade executive says 9 firms at the Singapore Fintech Festival 2023 exemplify the diverse range of products and expertise Italy can bring to the table.
Trust Bank sets the bar for digital banking in Asia Pacific
The digital bank targets to be Singapore's fourth largest retail bank, CEO Dwaipayan Sadhu said.