Exports growth accelerates to 12.4% in May

This almost doubled April's exports growth of 6.4%.

The growth of non-oil domestic exports (NODX) accelerated in April to 12.4% from 6.4% in April, data from Enterprise Singapore showed.

On an MoM seasonally adjusted basis, exports increased by 3.2%, a rebound from last month's 3.3% decline. 

The bigger increase in NODX in May was driven by the jump in non-electronic and electronic products which rose by 12.2% and 12.9%, respectively.

Amongst the main contributors to the growth in non-electronic exports, non-monetary gold had the biggest increase, soaring 344.4%, followed by specialised machinery (+26.4%) and measuring instruments (+38.0%).

Meanwhile, contributors to the growth of electronic products wereICs, parts of ICs and disk media products which expanded by 26.6%, 116.3% and 10.3% respectively.

Looking at Singapore's top 10 markets, the biggest contributors to the NODX growth in May were Malaysia (+27.9%), Taiwan (+24.7%) and Indonesia (+41.4%).

On the other hand, the US (-9.6%), the EU 27 (-6.6%), Hong Kong (-5.9%) and South Korea (-1.9%) declined.

Apart from NODX, oil domestic exports and non-oil re-exports also grew in may l by 86.4% YoY and 19.9% YoY, respectively.

With the increase in total exports (26.9%) and imports (38.7%), total trade has likewise risen by 32.4%.

Related: Chart of the day: Singapore Q1 trade forecast is ‘better-than-expected’

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!