FX.co ★ Singapore Non-Oil Domestic Exports Recover Sharply In July

In July, Singapore witnessed its first increase in non-oil domestic exports (NODX) in six months, with growth surpassing expectations, according to data released by Enterprise Singapore on Friday.

Year-over-year, NODX soared by 15.7% in July, bouncing back from an 8.8% decline in June.

This robust recovery was driven by advancements in both the electronics and non-electronics sectors.

Non-electronic exports climbed by 15.5% compared to the previous year, while electronic shipments saw a 16.5% increase. Notably, disk media products, other computer peripherals, and integrated circuits (ICs) were key contributors to the rise in electronic NODX.

On a month-by-month basis, NODX grew by 12.2% in July, reversing a 0.4% decline from June. Both electronic and non-electronic domestic exports showed significant gains.