Singapore’s key exports surge by surprise 15.7% in July, reversing from June drop

SINGAPORE’S non-oil domestic exports (NODX) far exceeded economist estimates to climb 15.7 per cent in July – the largest increase since January – as both electronics and non-electronics exports grew, data from Enterprise Singapore (EnterpriseSG) showed on Friday (Aug 16).

UOB associate economist Jester Koh said the performance reflected both strong sequential expansion and favourable base effects.

The latest print marked a turnaround from the preceding month’s surprise 8.8 per cent tumble. For July, private-sector economists polled by Bloomberg had expected a rise, but at a much more moderate 1.2 per cent.