Singapore Trade

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Singapore: Exports pick up in July

August 18, 2014

In July, non-oil domestic exports (NODX) fell 3.3% over the same month last year, which followed the 4.6% decrease recorded in June and came in above the 5.5% decrease that the markets had expected.

According to International Enterprise (IE) Singapore, exports of electronic products contracted 0.1% in July, which contrasted the 6.4% increase observed in June. In addition, non-electronic exports fell 3.3%, which contrasted the 8.7% increase observed in the previous month.

On a month-on-month basis, exports rose a seasonally-adjusted 2.5% in July, which was above the 1.5% increase recorded in June.

FocusEconomics Consensus Forecast panelists see overall nominal exports expanding 3.8% this year, which would bring exports to a total of USD 454 billion. For next year, the panel projects exports to grow 6.4%, for a total of USD 483 billion.


Author:, Senior Economist

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Singapore Trade July 2014 0

Note: Year-on-year and seasonally-adjusted month-on-month variation of non-oil domestic exports in %.
Source: Statistics Singapore (Singstat) and FocusEconomics calculations.


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