SINGAPORE: Singapore’s non-oil domestic exports in July likely rose from a year earlier for a third straight month, supported by strength in electronics exports, a Reuters poll showed on Tuesday. Non-oil domestic exports in July were expected to have increased 9.9 percent on an annual basis, according to the median forecast in the survey of 12 economists. Exports increased 8.2 percent from a year earlier in June, and edged up by a revised 0.4 percent in May.
On a month-on-month and seasonally adjusted basis, non-oil domestic exports were seen shrinking 0.4 percent in July, the Reuters poll found, after falling 2.7 percent in June. The trade data for July is due on Thursday, at 8:30 a.m. Singapore time. (0030 GMT) Singapore and other Asian economies that are highly dependent on trade have gained a big boost this year from an improvement in global demand, particularly for electronics products and components such as semiconductors. Singapore’s trade-reliant economy grew faster than initially estimated in the second quarter, according to data released last week, with a rebound in services suggesting a broader and more balanced recovery after a stumble early in 2017.
