Non-oil domestic exports rise by 2.7% in Q2

Thanks to the strong electronic exports.

Singapore's non-oil domestic exports posted a 2.7% increase in the past quarter, extending the 15.3% growth in Q1.

According to the International Enterprise (IE) Singapore, this came with the 13.3% growth in electronic exports. This is on the back of the 25.1% expansion in integrated circuits exports. 

On the other hand, non-electronic products fell by 1.1% in Q2, down from the 17.8% expansion in the preceding quarter. This is due to the lacklustre exports of civil equipment parts, non-electric engines and motors, and pharmaceuticals.

Meanwhile, NODX to all top 10 markets expanded in the said quarter with the exception of EU 28, Hong Kong, and the United States. Exports to China, South Korea, and Taiwan, grew by 33.2%, 62.7%, and 22.5%, respectively.