Singapore August exports up 7.7pc year-on-year, higher than forecasts

Singapore's August non-oil domestic exports rose 7.7 per cent from a year earlier. — Reuters pic
Singapore's August non-oil domestic exports rose 7.7 per cent from a year earlier. — Reuters pic

SINGAPORE, Sept 17 — Singapore's August non-oil domestic exports (NODX) rose 7.7 per cent from a year earlier, beating forecasts, official data showed today, helped by items such as non-monetary gold and specialised machinery.

That compared with a revised 5.9 per cent increase in July. Economists had forecast a 3.7 per cent increase for August, according to the median of eight estimates.

On a seasonally adjusted month-on-month basis, exports expanded 10.5 per cent in August after a 1.2 per cent rise in the previous month, Enterprise Singapore said in a statement. Economists had forecast a 0.9 per cent rise.

Shipments of non-monetary gold rose 55.1 per cent in August 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. Electronics exports increased 5.7 per cent. — Reuters

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