Home Commodity Singapore exports surge 16.1% in June, beating forecasts

Singapore exports surge 16.1% in June, beating forecasts


SINGAPORE (Reuters) – Singapore’s June non-oil domestic exports (NODX) jumped 16.1% from a year ago, beating forecasts, official data showed on Friday, helped by shipments of pharmaceuticals, specialised machinery and electronics.

That was reversal of a revised 4.6% decline in May, and higher than the 6.2% increase forecast by economists in a Reuters poll. The figure was also boosted by a low base comparison from the year earlier.

On a seasonally adjusted month-on-month basis, exports rose 0.5% in June after a revised 4.6% fall in the previous month, Enterprise Singapore said in a statement.

Economists had forecast a 2.2% contraction.

Shipments of non-monetary gold also bolstered June’s rebound, up 238.0% from a year earlier. The city-state is a big regional player in the gold trade, and exports can be affected by sharp swings in value.

To read the original article, click here.


Please enter your comment!
Please enter your name here