Singapore’s annual non-oil domestic exports (NODX) grew for the first time in two months in June, thanks to an extended uptick in electronics sales on the back of improving global demand.
Exports rose a higher-than-expected at 8.2 percent in June from a year earlier, data from trade agency International Enterprise Singapore (IE Singapore) showed on Monday. A Reuters poll predicted an expansion of 4.1 percent.
In May, non-oil exports grew a revised 0.4 percent from a year earlier.
On a seasonally adjusted month-on-month basis, exports in June declined 2.7 percent after rising a revised 9.4 percent in May. The poll projected 2.1 percent drop in June.
Electronics sector exports – a major driver of shipments in recent months – rose 5.4 percent in June 5.4 year-on-year.