Thanks to non-monetary gold, petrochemicals, and measuring instruments.
Singapore's non-oil domestic exports (NODX) to China grew 53.3% YoY and hit a record high of $3.1b in October.
According to an analysis by Maybank Kim Eng and RHB Research, this was underpinned by higher demand for non-monetary gold, petrochemicals, and measuring instruments.
Singapore's other top markets included the EU, which grew +26%, and Malaysia, which grew +22%.
"NODX to the EU was boosted by purchases of pharmaceuticals and medical apparatus," RHB said.
Meanwhile, NODX to emerging markets, which comprised 13% of the total rebounded strongly by +32% after two months of decline. This was mainly supported by exports to Cambodia, Lao PDR, Myanmar, and Vietnam (CLMV) countries, which grew +58%.
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