Singapore’s exports up 7.6% in Q3

SINGAPORE: Singapore’s Non-oil domestic exports (NODX) grew by 7.6 per cent in 3Q 2017, driven by both electronic and non-electronic exports, according to statistics released by trade agency International Enterprise (IE) Singapore on Thursday (Nov 23).

Electronic NODX grew for the fourth straight quarter while non-electronics resumed growth, IE Singapore added in its statement.

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Taking into account these factors and the better-than-expected performance of total trade and NODX to date, 2017 growth projections were revised upwards to 10.0 per cent to 10.5 per cent for total merchandise trade and 6.5 per cent to 7.0 per cent for NODX.

For 2018, growth projections are at 1.5 per cent to 3.5 per cent for total merchandise trade and 0 per cent to 2.0 per cent for NODX.

Domestic exports of electronic products increased by 8.9 per cent in 3Q 2017, following the 13.7 per cent growth in 2Q 2017.