Singapore's Non-Oil Domestic Exports in July Increased by 6% Year-on-Year

According to data released by the Singapore Enterprise Development Board on August 17, Singapore’s non-oil domestic exports in July continued the upward trend in June, up 6% year-on-year. In June, it increased by 13.9% year-on-year.

Non-oil domestic exports continued to grow in July, mainly due to the increase in non-electronic exports such as non-monetary gold and special machinery, and the increase in exports of electronic products such as disk media products. Exports of non-electronic products increased by 6.9% in July, of which non-monetary gold increased by 227.9%, and special machinery increased by 60.1%. The export of electronic products increased by 2.8%, mainly driven by the 23% increase in exports of disk media products.

After seasonal adjustments, non-oil domestic exports increased by 1.2% month-on-month in July, reversing the 1.4% decline in June. The main reason is that non-electronic product exports grew faster than electronic product exports fell.

In July, Singapore’s exports to the United States increased by 98.7%, exports to South Korea increased by 56.3%, and exports to China’s Taiwan region increased by 18.7%. Singapore’s exports to Indonesia, Thailand, Hong Kong, Mainland China and the European Union declined.