Singapore exports rise 68.4pct in September
SINGAPORE: Singapore's non-oil domestic exports rose 68.4 per cent year-on-year in September, marking the sixth consecutive month of growth above 20 per cent, according to government data. The increase was driven mainly by non-electronic exports, particularly ships and boats, while electronic exports also recorded strong growth. The expansion exceeded the median forecast of 32.2 per cent growth…
Singapore's non-oil domestic exports surged by 68.4 percent year-on-year in September, according to government figures. This represents the sixth consecutive month of growth exceeding 20 percent, surpassing the median forecast of 32.2 percent growth in a Reuters poll. The increase was primarily fueled by non-electronic exports, particularly ships and boats, with electronic exports also experiencing robust growth.
The expansion exceeded expectations, with electronics exports rising by an impressive 107.6 percent year-on-year, while non-electronic exports increased by 54.2 percent, as reported by Enterprise Singapore. Exports to nine of Singapore's top ten markets saw growth, with shipments to Hong Kong surging by 112.1 percent. In August, Enterprise Singapore had revised its forecast for non-oil domestic export growth for the year to a range of 14 to 16 percent, from the previous projection of three to five percent.
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