ECONOMY | Staff Reporter, Singapore

Singapore's non-oil domestic exports' 1.1% growth short of target

Electronic NODX fell 7.9% YoY due to export declines in ICs, parts of PCs and consumer electronics.

Singapore’s non-oil domestic exports (NODX) grew 1.1% in June, an announcement revealed. It fell short against the 15.5% growth in May and from the initial YoY increase of 7.8% by some economists.

Enterprise Singapore noted that the growth came from non-electronics which beat the decline in electronics. On a seasonally adjusted basis, NODX in June fell 10.65% to $15.1 b from $16.9 b in May.

According to the agency, electronic NODX declined 7.9% YoY in June and slipped 7.8% MoM. integrated circuits (ICs) (19.6%), parts of PCs (26.9%), and consumer electronics (27.8%) saw declines in electronic domestic exports.

Meanwhile non-electronic NODX grew 4.6% YoY in June which still fell short of the 26.2% expansion in May. Food preparations (+126.0%), pharmaceuticals (+19.1%) and petrochemicals (+15.4%) led the advance in the sector.

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