This is despite continued decline in pharma and chemicals export.
Singapore's non-oil domestic exports (NODX) growth 8.5% YoY in July, 2.5ppt lower than last month's rate.
According to OCBC Treasury Research, growth for electronics exports jumped 16.3% YoY, led by integrated circuits (ICs) at 31%, followed by parts of PCs at 9.9%, and Disk Media Products at 5.9%.
For the non-electronic exports, lustre petrochemical contributed to NODX’s overall strength at with growth of 38.3%. However, exports of pharmaceuticals and chemicals still declined.
Exports saw growth in Asian markets, especially Thailand at 55.3%, Malaysia at 21.8%, and Hong Kong at 19.5%.
Others continued to stay in positive growth territories, OCBC said.
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