, Singapore

Exports soared by 15.9% in June

Top export destinations were Taiwan, the EU, and Mainland China.

Exports expanded by 15.9% in June, driven by non-electronic exports.

This was a sharp increase from the 8.6% expansion recorded in May.

Non-electronic exports expanded by 13.2% in June, driven by a 51.2% growth in petrochemicals and a 43.2% growth in specialised machinery.

Electronic exports expanded by 25.5%, driven by a massive 130.2% increase in PC exports.

Taiwan, the EU 27, and China were the top contributors to the exports rise, expanding by 41.4%, 36.7%, and 27.6%, respectively. On the other hand, exports to the US, Japan, and Malaysia declined. Rounding up the top ten export markets are South Korea, Hong Kong, Thailand, and Indonesia.

Imports increased by $1.3b in June, to $7.3b compared to May’s $6b.

Total trade expanded by 25% in June, as both exports and imports rose. Total exports rose by 22.3%, whilst total imports grew by 28.3%.

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