Singapore NODX up 8.2% in June

Remigio Civitarese
Luglio 17, 2017

Non-oil domestic exports (Nodx) grew by 8.2 per cent in June, following the flat performance in the preceding two months, according to data by trade agency International Enterprise Singapore released on Monday (July 17).

Non-oil re-exports rose 9.1% in June, following a 15% expansion in the previous month.

"Today's release of June NODX validates our argument and we still maintain our positive outlook on the overall NODX expansion for 2017, supported by continued growth in electronics exports". ICs, disk media products and capacitors grew by 20.7%, 2.9% and 10.5%, respectively, and they contributed the most to the growth in electronic domestic exports.

The decline in electronic exports outweighed the increase in non-electronic ones, according to the IE Singapore report published on Monday, July 17, 2017. A Reuters poll predicted an expansion of 4.1 per cent.

Month-on-month, total trade decreased by 3.7 per cent in June, after the 7.6 per cent growth in May. Meanwhile, total imports also decreased by 5.2 per cent in June, after the 8.0 per cent growth in the previous month. Gold, specialised machinery and petrochemicals contributed the most to the growth, rising by 148%.

Exports to China, South Korea, Japan, Malaysia and Hong Kong grew, outweighing the decline in exports to the US, Taiwan, EU, Thailand and Indonesia.

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